Tech tech boom! London tech sector raises record funding from US

US venture capitalists invested almost $800m in London tech last year

Motherboard tech processor computer

A bit of technology

London tech firms are attracting more money from US investors than ever before, according to the latest figures to be revealed by the Mayor of London today.

The figures come during Boris Johnson’s current trade mission to the United States, which is aimed at strengthening economic and cultural ties between London and the US.

In total, London firms attracted $1.4 billion in venture capital funding in 2014.

Of this figure, $795.2m came from US investors.

This more than doubles the previous record figure set in 2012 of $296m.

Meanwhile, investment into the UK from the US as a whole has also hit a new high, reaching $1.35bn in 2014, compared to $582m in 2012, according to figures from London and Partners.

Johnson, said: “As the digital capital of Europe, London is clearly the place to create fast-growing tech companies, and our flourishing tech sector has caught the eye of US investors. London’s talent is attracting global investment, enabling our innovators to turn their ideas into companies that create jobs and economic growth in London.”

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