The UK tech sector has attracted more foreign capital investment in the fist seven months of 2019 than it did for the whole of 2018. • $6.7 billion has been invested in UK tech companies in the first seven months of 2019 • More than half ($3.7B) of these investments have come from America and Asia • UK tech has now overtaken the US for foreign investment, per capita  • The sector is averaging $1bn a month from both foreign and domestic investors • The top 30 foreign-funded companies have created more than 5,000 UK jobs • This talent is being celebrated in Tech Nation’s Bright Tech Futures Awards

1. The UK has become the world’s
hottest tech hub in 2019
21August2019
Bristol’s Clifton Suspension Bridge. Photo by Vadim Sherbakov.

2. Source: Dealroom.co
Summer update on UK tech sector
August 2019 | Check underlying data via https://datacommons.technation.ioPage / 2
InvestmentinUKtech
skyrocketing
GlobalinvestorinterestinUK
techsurging
UK’stechleadersarealsojob
creationengines
$4.7B
$6.7B
2019
Jan-Jul
2018
Jan-Jul
$1.5B
$3.7B
10K
jobs
15K jobs
2019
Jan-Jul
2018
Jan-Jul
2019
Jul
2016
Dec
+43%
VenturecapitalinvestedinUKstartupsduring
JanuarytoJuly
+147%
CapitalinvestedinUKstartupsbyUSandAsian
investors
+61%
Additionaljobscreatedbythetop30foreign-
fundedcompaniessince2016

3. August 2019 | Check underlying data via https://datacommons.technation.io
Source: Dealroom.co
Investment inUKstartups isreachingnewheights, mainlydriven byrounds above
$100 million (while rounds below $100million alsocontinue growing).
Summer update on UK tech sector
Page / 3
$100M+ rounds
$50M-$100M
$25M-$50M
$10M-$25M
$0M-$10M$0.4B $0.5B $0.5B $0.4B $0.5B $0.5B $0.5B $0.4B $0.5B $0.5B $0.4B $0.5B $0.4B $0.5B
$0.3B
$0.3B $0.3B
$0.2B
$0.3B
$0.3B
$0.4B
$0.4B $0.3B
$0.5B
$0.5B $0.4B
$0.4B
$0.5B
$0.3B $0.2B $0.2B
$0.2B
$0.2B $0.3B
$0.5B
$0.3B
$0.2B
$0.2B $0.4B
$0.6B
$0.5B
$0.5B$0.4B
$0.1B $0.1B
$0.2B
$0.1B
$0.3B
$0.4B
$0.2B
$0.3B
$0.5B
$0.4B
$0.3B
$0.3B
$0.7B
$0.1B $0.3B
$0.2B
$0.2B
$1.4B
$0.7B $1.1B
$0.5B
$0.6B
$0.5B $0.5B
$0.8B
$1.9B
$2.1B
$1.2B
$1.4B
$1.1B
$1.5B
$2.5B
$2.4B
$2.6B
$1.7B
$2.1B
$2.4B $2.4B $2.3B
$3.7B
$0.0B
$0.5B
$1.0B
$1.5B
$2.0B
$2.5B
$3.0B
$3.5B
$4.0B
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2016 2017 2018 2019

4. August 2019 | Check underlying data via https://datacommons.technation.io
Source: Dealroom.co
Investment fromUSandAsianinvestors reached$3.5billion inthefirst halfof2019,
more thaneachofthefullyear2018and2017.
Summer update on UK tech sector
Page / 4
Venture capital investment from the USA and Asia into the UKName Investors From Round
Greensill
Supply chain finance
SoftBank
$ 800M
GROWTH EQUITY
Deliveroo
Food delivery platform
Amazon, Greenoaks Capital
Management, Fidelity, T. Rowe
Price
$ 575M
SERIES G
Babylon Health
Remote health consultations
Kinnevik, Vostok New Ventures,
PIF- Public Investment Fund,
MunichRE/ERGO CVF
$ 550M
SERIES C
OakNorth Bank
Bank for SMEs
SoftBank, The Clermont Group
$ 400M
LATE VC
OVO Energy
Energy tech and supplier
Mitsubishi Corporation
$220M
GROWTH EQUITY
Checkout.com
Online payment solutions
Insight VP, DST Global, GIC,
Endeavor Catalyst, Blossom
Capital
$ 230M
SERIES A
WorldRemit
Online money transfer
Accel Partners, Technology
Crossover Ventures, LeapFrog
Investments
$ 175M
SERIES D
Monzo
Digital-only bank platform
Accel Partners, Passion Capital,
General Catalyst Partners, Thrive
Capital, Y Combinator, Orange
Digital Ventures, Stripe,
Goodwater Capital
$ 144M
SERIES F
Wejo
Access to connected car data
General Motors
$ 102M
SERIES B
Asia
USA
$0.7B
$1.1B
$0.8B
$0.5B
$1.5B
$1.9B
$1.1B
$1.8B
$3.5B
H1 H2 H1 H2 H1 H2 H1 H2 H1
2015 2016 2017 2018 2019

5. $0.7B
$1.1B
$0.8B
$0.5B
$1.5B
$1.9B
$1.1B
$1.8B
$3.5B
$0.5B
$0.3B$0.2B$0.3B
$0.4B
$0.5B
$1.6B
$0.4B
$0.8B
$0.1B
$0.2B
$0.1B
$0.4B
$0.2B$0.1B
$0.5B
$0.1B
$0.5B
$0.7B
$0.9B
$1.3B
$0.6B
$1.4B
$2.1B
$1.5B
$1.7B
$2.9B
H1 H2 H1 H2 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H2 H1 H2 H1 H1 H2 H1 H2 H1 H2 H1 H2 H1
2015 2016 2017 2018 2019 . 2015 2016 2017 2018 2019 . 2015 2016 2017 2018 2019 . 2015 2016 2017 2018 2019
August 2019 | Check underlying data via https://datacommons.technation.io
Source: Dealroom.co
WhileallofEurope isexperiencing increased interest fromUSandAsianinvestors,
thetrendisthestrongest intheUK.
Summer update on UK tech sector
Page / 5
United Kingdom Germany France Rest of Europe
= USA
= Asia
USA
Asia

6. Source: Dealroom.co
Summer update on UK tech sector
August 2019 | Check underlying data via https://datacommons.technation.ioPage / 6
$14.6B
$6.5B
$4.2B
$2.5B
$2.2B
$1.4B
$1.3B
$1.2B
United Kingdom
Germany
Switzerland
France
Sweden
Ireland
Spain
Netherlands
InvestmentfromUSAandAsiaintoEurope(2013-2019YTD)
Since2013,UKstartups haveraisedmore fromUSandAsianinvestors thanmost of
Europe combined.
AsiaUSA

7. August 2019 | Check underlying data via https://datacommons.technation.io
Source: Dealroom.co
Asaresult, thefunding mixintheUKhasdramatically shifted. Bycontrast, France’s
funding mixhasremained relatively stable.
Summer update on UK tech sector
Page / 7
USA
Asia
Europe
Cross-border
Domestic
Rest of World
United Kingdom Germany France Total Europe
25%
32% 31%
21%
28% 30% 30% 30%
16%
24%
19% 19%
27%
23%
4%
13%
18%
13% 11%
14% 15%
29% 26% 27%
20%
26% 26% 29%
5% 6%
7%
13% 7%
27%
1%
14%
1%
4%
9%
16%
10%
2%
4% 2% 1%
1% 6% 3%
6%
10% 8%
12%
2%
1% 2%
2%
1%
2%
2%
5%
1%
15%
3%
2%
2%
1%
1%
2% 3%
4%
3%
2%
2%
3% 4%
1%
11%
11%
12%
15%
11% 17%
12%
30% 24%
31% 34%
25%
24%
41%
13%
23%
17%
18%
14%
16%
20%
22%
22%
25%
25%
18% 22%
26%
61%
51% 49%
55%
47% 45%
29%
38%
42% 43% 41%
32% 30%
25%
81%
63% 62% 63%
73%
64% 65%
44% 43% 43%
47%
43%
39%
32%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2013 2014 2015 2016 2017 2018 2019
YTD
2013 2014 2015 2016 2017 2018 2019
YTD
2013 2014 2015 2016 2017 2018 2019
YTD
2013 2014 2015 2016 2017 2018 2019
YTD

8. 31%
47%
30%
14%
25%
30%
14%
15%
7%
10%
16%
6%
13%
4%
3%
2%
24%
2%
2%
26%
2%
0%
2%
2%
15%
24%
15%
33%
32%
33%
31%
18%
23%
17%
37%
21%
28%
33%
50%
64%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Israel
Switzerland
United Kingdom
Spain
Germany
Sweden
Netherlands
France
USA and Canada Asia Rest of World Europe cross-border Domestic
Source: Dealroom.co
The UKhashadawider mixofinvestors, compared toGermany, Swedenand
France which relymoreondomestic andEuropean funding.
Summer update on UK tech sector
August 2019 | Check underlying data via https://datacommons.technation.ioPage / 8
%offoreigninvestment(2018–2019YTD)bycountryandsource

9. August 2019 | Check underlying data via https://datacommons.technation.io
Source: Dealroom.co.
BothVCsandCorporates areresponsible fortheincreased investment outofAsia
andtheUSintotheUK.
Summer update on UK tech sector
Page / 9
–
5%
10%
15%
`13 `19
–
20%
40%
60%
80%
`13 `19
Europe USA and Canada Asia
Corporates
Venture Capital
Other
0%
3%
6%
9%
12%
`13 `19
–
2%
4%
6%
8%
10%
`13 `19
–
10%
20%
30%
`13 `19
–
10%
20%
30%
`13 `19
–
2%
4%
6%
8%
`13 `19
% based on rounds count % based on amount
% of capital invested by region and investor type
Greensill
OakNorthBank
OVO Energy
Not meaningful Not meaningful

10. 28%
43%
57%
72%
93%
21%
30%
42%
60%
90%
100%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2015 2016 2017 2018 2019 YTD 2015 2016 2017 2018 2019 YTD 2015 2016 2017 2018 2019 YTD
August 2019 | Check underlying data via https://datacommons.technation.io
Source: Dealroom.co
Theshiftinfunding mixisdriven bybothanincrease inthenumber oflargerrounds,
aswellasanincrease offoreign investment withinround sizes.
Summer update on UK tech sector
Page / 10
0-$10M $10-$50M $50M+
% of rounds with at least one foreign investor
London based startups
UK startups ex-London

11. Ofthetopthree global techhubs, theUKattractsnearlyasmuchnon-domestic
capital asthemuchbigger China.TheUKisaheadoftheUSAonapercapitabasis.
August 2019 | Check underlying data via https://datacommons.technation.ioPage / 11
Summer update on UK tech sector
Non-domestic venture capital investment Non-domestic venture capital per capita
-
$5B
$10B
$15B
$20B
$25B
$30B
$35B
$40B
$45B
$50B
2015 2016 2017 2018 2019 E
China
United States
United Kingdom
$0
$25
$50
$75
$100
$125
$150
2015 2016 2017 2018 2019 E
United Kingdom
United States
China

12. Isinvestment fromUSandAsia good forUKtech?Since2016, valuations tripled as
these startups scaleglobally, benefiting founders &early(UK)investors. Thetop30
startups aloneadded 5Knewjobs andnowprovide 15Kjobs.
August 2019 | Check underlying data via https://datacommons.technation.ioPage / 12
Summer update on UK tech sector
10K
15K
2016 2019 July
…these30companiesgrewnumber
ofjobsby5Kto15Ksince2016…
…whilethecombinedvaluationof
these30companiestripledto$45B.
$15B
$45B
2016 2019 July
Top30UKcompaniesraisingthe
mostcapitalfromUSandAsia…

13. Themost complete anddetailed picture ofUK’stechecosystem, inpartnership with
TechNation.
August 2019 | Check underlying data via https://datacommons.technation.io
31,300+
startups&scaleups
500+
Accelerators, workspaces
10,200+
funds&corporateinvestors
19,500+
Fundingrounds&exits
Page / 13

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15. Arapidly expanding network ofEuropean ecosystems,
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16. Themostcomprehensivesourcefordataoninnovative
companiesandventurecapitalinvestment.
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Number of European rounds tracked in 2018
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