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Venture capital investment in UK and Irish technology companies was down 22% by value and 17% by volume in Q2 compared with Q1, according to latest data from corporate finance firm Ascendant, but this is seen as an understandable virus-induced correction rather than an existential crisis.
During Q2, a total of £1.91b was invested in 231 companies in the sector by 447 investors. During the first half of 2020, £4.3b (£3.9b in H1 2019) has been invested in 510 deals (554 in H1 2019).
The latest edition of IndustryViews Venture Capital has more detail, along with 50 pages of succinct commentary on UK tech venture funding deals.
TechMarketView Foundation Service and UKHotViews Premium subscription clients can click here to download the report.
Posted by HotViews Editor at '11:56' - Tagged: funding startup
At the end of last week the Scottish Government revealed it has commenced development of a contact tracing app to support NHS Scotland’s COVID-19 Test and Protect system. The announcement confirmed Scotland has become the latest country to adopt the app technology developed by Irish digital solutions business NearForm. It follows the announcement earlier in the week that Northern Ireland had become the first part of the UK to release a contact tracing app when its StopCOVID NI app, also based on NearForms technology, went live.
NearForm was founded by CEO Cian Ó Maidín in Tramore, County Waterford, in 2011. It employs around 100 people and had a turnover of €18m in 2018. The company has developed an impressive list of clients since it was established, but it is through its work with the Health Service Executive (HSE)—the organisation responsible for public health and social care services in Ireland—to develop a contact tracing app for Ireland that it has gained significant publicity around the world.
TechMarketView subscribers, including those signed up to UKHotViewsPremium can find out more about how the app was developed and the growing interest in the technology here. If you are not yet a subscriber, please contact Deb Seth to find out how to access this and much more.
Posted by Dale Peters at '13:48' - Tagged: scotland ireland development app northern+ireland healthcare covid-19
