This week, the UK has witnessed a remarkable surge in tech funding, with significant investments across various sectors.
- The week saw a substantial 130% increase in tech investments, highlighting the sector’s growth potential.
- Drug discovery platform PhoreMost, based in Cambridge, secured considerable funding in a successful Series B round.
- The fintech sector also saw growth, with Bournemouth-based Twenty7tec receiving investment to enhance its mortgage platform.
- Overall, £106.5m in tech investments were tracked this week, spread over twelve funding rounds.
The UK tech sector experienced a noteworthy 130% increase in funding this week, signalling a strong investor confidence in technological innovation. Multiple sectors benefited from this influx, with over £106.5m tracked across twelve rounds of investment.
PhoreMost, a prominent player in drug discovery, stood out with a successful Series B funding round. Established in 2014 and headquartered in Cambridge, PhoreMost has garnered support from investors including BGF, XtalPi Inc, and Astellas Venture Management.
In the financial technology arena, Twenty7tec, based in Bournemouth, attracted growth equity funding. This investment aims to streamline and enhance the mortgage process, reflecting the growing demand for efficient fintech solutions.
Other notable investments include contributions to various innovative UK tech startups, each contributing to the sector’s overall dynamism and forward momentum.
The significant increase in UK tech funding reflects a robust interest in technological advancement and innovation across sectors.
