Dealroom - UK tech update LTW 2023

The UK Tech Update report provides an overview of the UK's position in the global tech industry. The report highlights that the UK is the #3 country for VC investment globally and the first in Europe. London is the #1 global hub for fintech, but the city is also diversifying, with new unicorns emerging in sectors such as Edtech, Energy, and AI. UK startups have raised $8.9B so far in 2023, which is a ~50% decrease compared to the same period last year. However, the fall in UK startup funding is due to the drop in megarounds, but early-stage investment is still active and competitive. The report focuses on companies in the internet age, i.e. after 2000, and most but not all unicorns are VC backed. The companies included in the analysis are tech-driven, and industries include software, ecommerce, online marketplaces, hardware, and ICT infrastructure. Investment numbers refer to venture capital investment rounds such as seed, series A, B, C, …, late stage, and growth equity rounds. It excludes debt or other non-equity funding, lending capital, grants, and ICOs. Buyouts, M&A, secondary rounds, and IPOs are treated as exits: excluded from funding data, but included in exit data. The underlying data comes from Dealroom's proprietary database and software, which aggregate data from multiple sources, including public information, user-submitted data verified by Dealroom, and data engineering. All data is verified and curated with an extensive manual process.