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US and Asian Investment in UK Tech Skyrockets

The UK tech sector has attracted more foreign investment in the first seven months of 2019 than it did during the whole of last year, according to latest industry figures, and has overtaken the US for foreign investment, per capita. 

Research prepared for the Digital Economy Council by Tech Nation and Dealroom.co shows that between January and July this year, UK-based tech firms received a staggering $6.7 billion in funding – with $3.7 billion, or 55%, coming from American and Asian investors thanks to billion dollar tech companies such as energy supplier OVO Energy and food delivery startup Deliveroo.

The sector is attracting an average of $1bn a month from both foreign and domestic investors – one and a half times the amount raised during the same period last year – making the UK one of the most attractive and dynamic markets in Europe.

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Mobile platform Kobiton raises $5m from BIP Capital

A wearable tech firm has raised more than £4 million to bring its “game-changing” golfing offering to the US market. Mobile platform Kobiton raises $5m from BIP Capital.

Edinburgh-headquartered Shot Scope Technologies, which produces a GPS-based, performance-tracking golf watch, has raised $5m (£4.1m) capital to expand in the US, where it has already established relationships with retailers.

The funding round includes follow-on investment from the Scottish Investment Bank, Old College Capital – the in-house venture capital arm of the University of Edinburgh – and angel fund Equity Gap.

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