London Retains Crown as Top European Tech Hub for VC Investment

The annual Tech Nation Report today reveals key stats on the UK’s booming tech industry. The Tech Nation report’s headline findings include:

  • London generated record investment among European cities at £6.8bn in 2019, up 67% from 2018 at £4bn, and comprising 16% of all European VC tech investment in 2019
  • London VC investment is followed by European cities Berlin (£3.5bn), and Paris (£2.4bn)
  • £5bn invested in emerging tech (2015-2019)
  • £3bn AI investment (2015-2019)
  • £53,296 digital tech salary (median)

London leads the UK in unicorn creation at 43 digital tech unicorns in 2019 with 58 high-value tech scaleups in the pipeline, the $1bn tech companies of tomorrow.



Tech Nation’s Future Fifty 8.0 Programme

20 London late-stage companies joined Tech Nation’s Future Fifty 8.0 cohort announced including Elvie, Beamery, Babylon and Elder Fintech dominates the London Future Fifty 8.0 cohort with 5 fintechs joining, followed by Software as a Service (SaaS) (4) and Healthtech (3).

Eoin Marsh, Entrepreneur Engagement Manager, London, Tech Nation commented: “It’s no surprise to see that London is the tech unicorn champion of Europe with 43 digital unicorns and 58 high-value tech scaleups. I’m also delighted to see many London-based tech companies entering our Future Fifty 8.0 growth programme, including Beamery Elvie and Elder. London’s going from strength to strength with companies like these at the forefront of the tech revolution.”

Iggy Bassi, Founder and CEO, Cervest, commented: “The Tech Nation report findings reflect our own healthy performance over the past year. We doubled our team of world leading scientists, engineers and developers to 30, accelerating our AI and Machine Learning expertise and brand awareness among target customers across UK and Europe. This all serves to reinforce London’s reputation as a global technology hub for ambitious startups and scaleups.”

“Cervest has also been able to engage with the UK Government to develop the policy drivers critical to our service. Having secured £3.7m in pre-series funding in 2019, Cervest is now working on next round funding and US entry, has secured a place on the Google for Startups accelerator and struck up a strategic partnership with the Turing Institute.”

Dr Lewis Z. Liu, Co-founder & CEO, Eigen Technologies, commented: “There is real momentum right now in the European tech sector. From a global perspective I believe European tech as a whole has come of age in the last couple of quarters. We’ve seen the likes of Lakestar, Atomico, Balderton, and Northzone raise big funds, showing greater ambition than ever before. European tech, with London leading the way, is now starting to compete with the likes of Silicon Valley and Shenzhen. Organisations like Tech Nation do brilliant work in supporting this drive and ambition, so we are truly honoured to have been selected to be in the latest Future Fifty cohort”