UK tech sector sees record £29.4bn VC investment

A record £29.4bn has flowed into UK tech sector this year, up 2.3x from last year’s figures of £11.5bn, prompting regional growth across the country.

Almost £9bn of all VC invested went into start-ups and scaleups outside London and the south east, with Cambridge now ranked as the leading regional tech city in the UK by the Digital Economy Council by Dealroom.

UK tech captured more than a third of investment into Europe. The £29.4bn raised was double the figure raised in Germany (£14.7bn) and almost three times that raised by France companies (£9.7 bn).

There has been a 50% rise in overall UK tech job vacancies advertised this year compared to 2020’s figures, with advertised tech vacancies hitting 160,887 in November.

Currently, tech vacancies make up 12% of all available jobs in the UK, with just over 50% of these jobs available outside of London and the south east.

Gerard Grech, founding Chief Executive, Tech Nation, said: “With such a record tech investment year, it’s becoming increasingly evident that the UK is very good at rearing and cultivating startups and scale-ups into successful global companies right across the UK, unlike its continental European neighbours, where it tends to be more in capital cities.

“A true network of digital excellence is emerging right across the country through entrepreneurship, driving new job and wealth creation.”

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