UK and Irish technology businesses closed deals worth a disclosed £635m, from 133 transactions worth over £500,000, during Q1 2015. The figures, from Ascendant Corporate Finance, marked an 18 per cent improvement rate over the corresponding period in 2014 when it comes to value, and 56 per cent in volume.
The software fundraising space grew by 70 per cent in value and 112 per cent in volume, over 2012. The most active regions were London and Scotland, responsible for 50 per cent and 17 per cent of deals respectively – London’s share of VC money was 77 per cent. On a city-by-city basis, 64 London tech companies received VC, 13 in Edinburgh and 10 in Dublin
The 10 biggest deals were:
(1) WorldRemit Amount: £65m Sector: Fintech Investors: Accel Partners, Technology Crossover Ventures Spending it on: Expanding US office and targeting more emerging markets
(2) FarfetchAmount: £58m Sector: Ecommerce Investors: Jose Marin, Fabrice Grinda, e.ventures, DST Global, Vitruvian Partners, Condé Nast Spending it on: International expansion with new local language sites, opening new offices in global markets, fuel omni-channel growth and customer propositions including launching same-day delivery
(3) TransferWise Amount: £38m Sector: Fintech Investors: Seedcamp, IA Ventures, Index Ventures, Valar Ventures, Richard Branson, Andreessen Horowitz Spending it on: Open office in the US, Germany and Australia, double number of “currency routes” from 292 (4) Blippar Amount: £30m Sector: Video and augmented reality Investors: Qualcomm Ventures, Landsdowne Partners Spending it on: Expand engineering team and extend global reach of image-recognition capabilities (5) Green Biologics Amount: £28m Sector: Agriculture technology Investors: ConvergInce Holdings, Morningside Technology Partners, Oxford Capital Partners, Capricorn Venture Partners, Sofinnova Partners, Swire Pacific Spending it on: Expand production, convenrt a Minnesota ethanol plant to make butanol and acetone Read on to find out which other companies made the top ten, including one that helps you identify music.
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