Skip to content
Search

Latest Stories

India ahead of UK in 2021 venture capital investments

India ahead of UK in 2021 venture capital investments

VENTURE capital (VC) investments in the technology sector soared to record in India in 2021 as the country’s ranking jumped a notch to the third spot, according to new research.

The analysis conducted jointly by London & Partners and Dealroom.Co found that Bangalore continued to lead India's tech charge, attracting $18.6 billion (£13.56 bn) to rank fifth in the world's top global cities for tech VC investments.

Overall, Indian tech VC investments grew nearly three times from $14.9 bn (£10.86 bn) in 2020 to $44.6 bn (£32.51 bn) in 2021, a year of a worldwide record high for such investments at $675 bn (£492 bn).

According to the report released in London on Thursday (13), the UK ranked fourth with $39.8 bn (£29.01 bn), with capital London also in the fourth place just ahead of Bangalore as the world's top tech hubs with $25.5 bn (£18.59).

City of London London was in the fourth place among the world's top tech hubs in 2021. (Photo by DANIEL LEAL/AFP via Getty Images)



“The record venture capital investment figures for the UK and India in 2021 demonstrate that tech and innovation are thriving across both regions. With an increasing number of unicorns and exciting tech startups, cities such as London and Bengaluru (Bangalore) are now recognised by VCs as some of the best places to find game changing companies to invest in,” said Hemin Bharucha, country director, India, for London and Partners, the Mayor of London's international trade and investment agency.

“This is great news for tech businesses across both ecosystems and creates lots of opportunities for collaboration between London and Indian tech hubs, especially in areas of mutual strength such as fintech and edtech. As well as access to high levels of growth capital, London has the talent, customers and a supportive ecosystem tech companies need to scale and we look forward to helping more Indian businesses expand into London in 2022,” he said.

The VC tech investments in 2021 were led by the US with $328.8 bn (£239.66 bn) followed by China with $61.8 bn (£45.05 bn).

The top global hubs attracting these investments were the San Francisco Bay Area ($100.9 bn or £73.54 bn), New York ($47.5 bn or £34.62 bn), Greater Boston Region ($29.9 bn or £21.79 bn), London ($25.5 bn or £18.59), Bangalore ($18.6 bn or £13.56 bn), Beijing ($13.6 bn or £9.91 bn) and Shanghai ($13.4 bn or £9.77 bn).

In terms of unicorns or startups valued at more than $1bn produced in 2021, 133 such firms came from the Bay Area, 69 from New York, 21 from the Greater Boston Area.

Bangalore had a record year, producing 16 new unicorn companies, with London producing more new unicorns than in any previous year at 20.

Akshay Chaturvedi, founder and CEO of Delhi-based tech firm Leverage Edu, said: “London over the years has established itself as a top hub for talent across multiple domains. For a customer first, tech driven company like ours, it is only natural to establish our biggest international office in London.”

“The quality and diversity of talent here is unmatched. I would like to thank London and Partners for helping us in the start of this amazing journey.”

Eileen Burbidge, partner at London VC firm Passion Capital added: “London and the rest of the UK's tech sector continues to go from strength to strength and (it) means that the UK is now competing on the global stage.”

(PTI)

More For You

Piyush Goyal

Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)

Getty Images

Trade talks with US moving forward positively, says Indian minister Goyal

INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.

He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.

Keep ReadingShow less
Baiju Bhatt

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)

Baiju Bhatt named among youngest billionaires in US by Forbes

INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.

At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
Getty Images

Economy shows no growth in July amid political turbulence

UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.

The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.

Keep ReadingShow less
India’s IT sector

India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.

iStock

India’s IT sector faces uncertainty as US proposes 25 per cent outsourcing tax

INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.

Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.

Keep ReadingShow less
Rachel Reeves

'Our economy isn't broken, but it does feel stuck,' Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.

Getty Images

Reeves signals possible changes to business property taxes ahead of budget

CHANCELLOR Rachel Reeves said on Thursday she is considering changes to business property taxes to support small firms looking to expand, as part of her plans to boost growth.

Reeves’ comments come ahead of her annual budget on November 26, at a time when concerns about possible tax rises and inflation are weighing on businesses and households.

Keep ReadingShow less