November saw a 54% decrease in the amount of funding announced by UK tech companies, according to the Tech City News UK Investment Tracker.
Some $73.5m (£59.4m) was raised across 18 rounds last month, compared with the $161.2m (£130.2m) raised in October, $70.91m (£53.8m) in September and $385.92m or (£294.96m) in August.
Some 16 of the rounds announced in November were raised by London-based firms. The other two rounds were raised by firms based in Hampshire (nDreams) and Wiltshire (Arkivum).
The largest round announced in November was the £30m Series C by FinTech firm Nutmeg. This was one of two Series C rounds announced in the month, the other being the rather more modest £3m by Arkivum.
Dominant raise
October’s largest round was the $30m raise by Bristol-based computer chip startup Graphcore and September’s was the $15m raised by AdTech firm Ogury. These all pale in significance, though, to the whopper of a round raised by Deliveroo – its $275m Series E....