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

+  In June, University of Sussex quantum computing spinout Universal Quantum sealed a $4.5 million funding round to compete against Google and IBM.

+  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.

Source:  Busienss Insider.  Callum Burroughs,  UK investors bet on a deep tech boom after startups across automation, AI, and quantum computing raise $3.3 billion…

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