A third of all start-up investment in Europe is seen going to the UK

According to recent research, venture capital funding is still pouring into the UK, particularly in the technology sector.

Dealroom, a market research firm, reports that in the first half of 2024, UK digital start-ups and scale-ups raised £7.4 billion, a 16% rise from the same period the previous year and a third of all venture capital financing in Europe.

Dealroom said that because of a number of notable deals, Britain drew more capital than both France and Germany put together.

The autonomous car technology business Wayve raised £861 million in May, while Abound, a credit technology company, raised £400 million, Highview Power, a liquid air battery group, raised £300 million, and Monzo, an online bank, raised £150 million.

The majority of money still goes to the "golden triangle" of Oxford, Cambridge, and London in Britain.

London's new or series funding projects secured £5.3 billion in investment, which is twice as much as Paris's second-place £2.4 billion and five times more than Stockholm's third-place amount.

ARM, a semiconductor creator, is headquartered in Cambridge, where revenue increased by 83% to £517 million in 2023.

According to Dealroom, generative AI businesses raised £2 billion, while innovative energy companies garnered the largest financing across Europe, bringing in £4.3 billion.

(Sources: investing.com, proactiveinvestors.co.uk)