August was a good month for UK tech as investment into the sector topped $385 million (£294m), reports the Tech City News Investment Tracker.
The total number of rounds announced was 17, which is lower than the previous month but the total amount raised was higher. This is largely due to Deliveroo closing its series E round at $275m. Notonthehighstreet.com also closed its series E funding round at £21m.
While the bulk of companies were London-based, two rounds were raised by firms based in Edinburgh. Sensewhere, the indoor positioning firm, raised $1.83m and TVSquared, a firm that provides performance insights into the efficiency of TV advertising.
Impact of Brexit
Anna Boffetta, investor with Balderton Capital, said that the impact of Brexit had not been as severe as many had feared.
“The volume of companies raising investment for the first time is down compared the same period in 2015, but this is not cause for panic. The response has been minor, measured and proportionate; and the best companies will continue to raise money,” she added.