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Top 50 UK tech startups catching the eye of venture capitalists

Written by Eric Johansson on Thursday, 08 September 2016. Posted in Investment, Finance

New research from Sonovate has revealed which British tech startups received the bulk of 2015’s record $3.6bn venture capital investments

Top 50 UK tech startups catching the eye of venture capitalists

Venture capitalists are putting their money where their mouths are by investing in startups they believe in. And it seems they’re eager to take a bite out of the UK tech scene, as venture capital investment rose to a record $3.6bn (£2.7bn) in 2015, up 70% from 2014. Now new research from Sonovate, a provider of finance to the contract recruitment industry, has revealed the 50 tech startups that have received the most funding to date.

While fintech companies have attracted the bulk of the finance, the startup that’s received the most is literally reaching for the stars. OneWeb will launch a constellation of satellites in 2018 to provide affordable high-speed internet access for the world’s unconnected and was the tech startup that received the biggest share after raising $500m (£374.2m). And it's not alone in exploring the final frontier.

Hot on the heels in position two is Deliveroo, the food delivery startup. Given that the startup has been pioneering the eatery sector with its app and by launching a string of pop-up kitchens, it should come as no surprise have attracted a total investment of $474.6m (£355.2m).

Oxford Nanopore Technologies, the healthtech startup developing nanopore-based electronic systems, was the third most funded tech startup after securing $408.4m (£305.6m) from venture capitalists.

Sonovate’s research also revealed which countries the venture capitalist funding came from. Unsurprisingly, 50% came from the UK and 29% from the US. Israeli venture capitalists contributed to 4% of the funding while 8% came from Europe, with Germany, France, Sweden and the Netherlands with each country investing 2% of the $3.6bn pot. Where the remaining 2% came from was not specified.

Top ten venture capital-back UK tech startups
1.    OneWeb $500m (£374.2m)
2.    Deliveroo $474.6m (£355.2m)
3.    Oxford Nanopore Technologies  $408.4m (£305.6m)
4.    Immunocore $320m (£239m)
5.    Farfetch $304.5m (£227.9m)
6.    Funding Circle $273,2m (£ 204.5m)
7.    Skyscanner $197.2m (£147.6m)
8.    Borro $177.5m (£132.8m)
9.    Atom Bank $166.3m (£124.5m)
10.    WorldRemit $147.7m (£110.5m)

If you fancy finding out more, head over to Sonovate’s website for more details and the full list of well-funded tech startups. Given that the research comes just days after R/GA Ventures launched the first UK accelerator for internet of things startups, it seems the UK tech scene won’t run out of backing anytime soon.

About the Author

Eric Johansson

As feature writer and resident Viking, Johansson ensures EB is filled with engaging and eclectic entrepreneurial stories. While one of our freshest faces, he has sharpened his editorial teeth by writing about business, entertainment and fitness.

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