investment

Weaker Pound Secures Record Investment in UK Tech Sector

Fast-growing UK tech companies secured a record £5.5bn in foreign investment in the first seven months of this year, according to research for the government’s digital economy council. The study for the Department of Digital, Culture, Media and Sport (DCMS) revealed that the UK has overtaken the US for the amount of investment per capita.

Funding growth was driven by US and Asian investment in private companies valued at more than $1bn, such as a renewable energy company Ovo Energy and takeaway business Deliveroo.