Almost £3 billion (US$4 billion) was invested in the UK's tech sector in 2017, nearly double the value of the previous year's investments, according to data from Pitchbook and London & Partners.
Despite the looming threat of Brexit, the UK tech scene appears to remain healthy -- London alone saw £2.45 billion pumped into the capital's technology firms, amounting to 80% of the entire country's venture capital investment in tech.
The figures also show how the UK remains the favorite destination of European VCs, with the levels of venture capital investment far above that for Germany, France and Sweden. Even combining the VC investments of those three countries in 2017 -- amounting to £1.78 billion -- does not match the UK's total, signifying the strength in the UK's tech scene.
The biggest deals in the UK tech scene in 2017 were in fintech, with "unicorn" TransferWise raising a £211 million round and challenger bank Monzo raising £71 million. This contributed to a record £1.34 billion invested into fintech in 2017, which adds fuel to the incredible growth of London's fintech industry during the past few years. (See Why is London a Global Leader in Fintech?.)
Who knows what 2018 will bring? It will be interesting to see if investment levels can keep up with 2017, or if Brexit will see them fall. Whatever the case, head over to our poll to have your say in which tech sector will see the most investment in 2018. (See Poll: Which Tech Sector Will Attract the Most Investment in 2018?.)