U.K.: Deep Tech Startups Raise $3.3B in 2019
UK investors bet on a deep tech boom after startups across automation, AI, and quantum computing raise $3.3 billion
Key points…
+ UK investors are putting more cash into ‘deep tech’ sectors such as artificial intelligence, quantum computing, and genomics.
[However] It’s also a… sore point that there is no national tech champion to rival Google, Facebook, Microsoft, or Amazon. There’s some hope that such a champion could emerge from a deep tech sector.
+ Venture capital investors say cheaper access and improvements in underlying technology make it easier to bet on deep technology startups.
+ Deep tech investors hope to better commercialize research coming out of UK universities and partner with early-stage startups to help scale their operations — and maybe help build the next Google or Microsoft
+ The round was oversubscribed, and Universal Quantum said it could pick investors with a long-term view on the moonshot of building a 1-million qubit computer.
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