$682m Invested in London Startups in Q1 2015

By Tim Maytom

London underground wifi

The first three months of 2015 have seen a record amount of venture capital investment in London-based startups, with $682.5m (£460m) poured into new firms, placing them on the track to break past $2bn in funding by the end of the year.

The record high in investment is a 66 per cent rise year-on-year, and smashes the previous record of $411.6m set in Q4 of last year. The figures, tracked by London & Partners, demonstrate the growth the capital has seen in tech investment since 2010, when it only managed $101m in total for the whole year.

However, the figures also reveal how clustered tech investment is on a national and global scale. Funding for London-based firms represented 80 per cent of all VC investment in the UK for Q1, and while 2014 saw London companies attract a record $1.35bn in funding across the whole year, it pales in comparison to US internet companies, which raised $11.9bn in 2014, and US software firms, which attracted $19.8bn worth of investment across the year.

Still, the figures are certainly encouraging for London-based startups, showing how rapidly the capital has managed to transform itself into a global centre for technology and innovation.

“This quarter is …read more

Source:: Mobile App News