UK, Female-founded tech startups raised $4.3 billion
UK-based tech startups with female founders or co-founders are getting more investment.
Such startups raised 3.6 billion pounds (about $4.3 billion) in 2022, up from 2.9 billion pounds (about $3.4 billion) in 2021, according to Dealroom data analyzed for the Department for Science, Innovation and technology and included in a press release sent to PYMNTER.
“I want the UK to be the best place for anyone – male or female – to start and grow a tech business, so it’s brilliant to see female-founded firms attracting more investment than ever before,” said Tech Secretary Michelle Donelan in the release.
By 2022, eight companies with female founders or co-founders raised $100 million or more in funding rounds, according to the press release.
A FinTech topped the list as FNZ raised $1.4 billion, the release said.
Four other FinTechs earned a spot in the top 10 in terms of funding rounds, with Lendable ranked third with $252 million, Starling Bank ranked fifth with $157 million, 5ire ranked eighth with $100 million and Cleo ranked tenth with $80 million, as of release .
The UK government has launched several initiatives to support diversity in the technology sector, according to the press release.
These include support for an industry-led group called the Tech Talent Charter that brings organizations together to improve diversity and inclusion, investment in scholarships and courses that encourage women to consider a career in technology, and the Department of Science, Innovation and Technology working with Colorintech to develop a toolkit to help digital businesses create more inclusive workplaces, the release said.
“Along with industry leaders, my brand new department will work hard to create the right environment for inspiring women to forge careers in the UK’s thriving technology industry and help it reach new heights,” Donelan said in the release.
This news comes two days after the UK government announced it is investing £370m (about $446m) to support “future industries”.
The new science and technology framework provides government funding to improve the infrastructure, investment and skills needed to grow technologies ranging from quantum and supercomputing to artificial intelligence (AI), the Department for Science, Innovation and Technology said on Monday (6 June). March).
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