Impact technology firms see investment surge as values hit £50bn

Asia's Tech News Daily

Investment in UK impact technology firms jumped to £2 billion in the past year as the sector passed a total valuation of £50 billion, according to new data.

Impact tech firms – which use technology to address issues such as climate change and global health – saw funding rise £300 million from 2020, according to data from Dealroom compiled for the UK’s Digital Economy Council.

Investment in the sector was found to have increased 127% since 2018, taking the total value of the sector beyond £50 billion for the first time.

Climate tech firms led the hike in investment, with green energy provider Octopus Energy raising the biggest round of the past year of £438 million, followed by electric car subscription platform Onto, which attracted £130 million in July.

Firms in the climate tech sector were found to have attracted 65% of impact deals over the past year, according to the figures.

The data comes as Digital Secretary Nadine Dorries hosts the Future Tech Forum this week in London to discuss future public policy issues relating to the development and use of digital technologies.

Ms Dorries said: “We want to harness the power of technology to make greener, healthier and safer choices and I’m hosting the first Future Tech Forum in London to discuss how we can make that happen through future governance, policy and co-operation.

“In particular, they will discuss how technology can deliver positive global change and deliver some of the ambitious targets agreed by nations at Cop26.”

Luisa Alemany, a professor at London Business School, said investors now realised these investments could deliver not only a social benefit but also a financial return.

She said: “Impact investing has come a long way since its start in the late 90s when it was considered more of a philanthropic endeavour.”

Twelve impact firms have now achieved one billion dollar valuation “unicorn” status, including Bristol-based flying-taxi firm Vertical Aerospace and ITM Power in Sheffield, which designs and manufactures hydrogen energy systems.

Impact tech firms were found to have created 35,000 jobs across the UK.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

Malware targeting Linux systems hit a new high in 2021

The Linux operating system is growing more and more interesting for malicious actors, a report from Crowdstrike has claimed. The company’s latest threat telemetry data has shown that malware for ... Read more »

US-China tech war: Chinese semiconductor output surged 33 per cent last year, double the growth rate in 2020

China’s output of integrated circuits (ICs), including those produced by local companies and foreign-owned factories, last year grew at double the rate seen in 2020, according to Chinese government data. ... Read more »

Apple AirPods Pro are nearly $60 off at Amazon — 'Audio and mic quality is amazing'

We may receive commission from purchases made via links on this page. Pricing and availability are subject to change. This is one great small package! (Photo: Amazon) Good things come ... Read more »

Brooklyn Beckham seriously divides fans with new photo – fiancée Nicola Peltz reacts

Brooklyn Beckham has come under fire after posting a new snapshot on Instagram. READ: Brooklyn Beckham and Nicola Peltz's living room inside $10.5m home is not what we expected The ... Read more »

New Assassin's Creed games could stream on Nintendo Switch and mobile – here's how

Ubisoft is looking to enhance its game streaming services – and might soon be bringing Ubisoft Plus other platforms – thanks to a new partnership with Gamestream. This collaboration will ... Read more »

Oppo Find X5 Pro leak says it'll even have the same camera brand as OnePlus 10 Pro

Read more »

A huge Google Pixel 6 update is here to fix loads of annoying bugs

If there’s one thing the Google Pixel 6 and Pixel 6 Pro might be remembered for, it’s the ongoing issues with the phones many users have been experiencing, which have ... Read more »

Samsung Galaxy S22 Plus leak points to a bright screen and surprisingly fast charging

There’s not much about the Samsung Galaxy S22 range that hasn’t been leaked at this point, and we’re largely down to small details such as screen brightness. But we now ... Read more »

‘I'm so afraid': Child refugees forced to share rooms with adults after being wrongly deemed over 18

Ministers have been accused of ‘washing their hands of’ child asylum seekers by operating an age assessment process that often wrongly labels them adults (AFP via Getty Images) Child refugees ... Read more »

Apple reportedly adding this classic MacBook Pro model to ‘vintage' list

Apple is reportedly planning to add another MacBook to its vintage list of products this month. According to an internal memo obtained by MacRumors, the tech giant will be adding ... Read more »

Ptron Force X11 smartwatch with Bluetooth calling launched at Rs 2,799

Smart wearable brand Ptron has expanded its product portfolio in India. The company has launched the Ptron Force X11 smartwatch with Bluetooth calling feature and 1.7-inch HD full-touch display.Ptron Force ... Read more »

BBC licence fee: Hugh Grant calls Tories ‘insecure nut jobs' over plans to ‘destroy' broadcaster

© Getty pjimage (1).jpg Hugh Grant has hit out at the government over plans to scrap the licence fee that funds the BBC by 2027. On Sunday (16 January), the ... Read more »

Investor disappointments continue for Kakao

Kakao’s corporate identity (Kakao)Started as a mere app developing company, South Korea’s platform giant Kakao has been on the fast track of success, becoming the nation‘s fifth-largest business entity just ... Read more »

Metaverse: Walmart hints at introducing NFTs and cryptocurrency in trademark applications

Photo credit: Marques Thomas @querysprout.com / Unsplash Some of the biggest brands around the world have been launching new products and campaigns that would put them into the metaverse over the last year. ... Read more »

Air carriers expand mileage services before merger

The Korean Air fleet (Yonhap)Korea’s two leading carriers, Korean Air and Asiana Airlines, plan to expand mileage services to encourage customers to spend their points that would otherwise be left ... Read more »

Entrepreneurs Are Leveraging the NFT World In the Name Of Polar Bears

Many buzzes have been created of late around the NFT space as projects associated with saving endangered species like polar bears are doing the rounds. Handout There have been quite ... Read more »

China gaming crackdown: Tencent prompts young gamers to adhere to 14-hour playtime limit during four-week winter break

Tencent Holdings, which runs the world’s biggest video gaming business by revenue and China’s largest social media platform, is reminding its game subscribers aged under 18 to strictly follow their ... Read more »

‘Halo Infinite' Shop to get lower prices ‘across the board' and more bundled items will be sold separately

From the “Halo Infinite – Fracture: Tenrai” trailer | Photo credit: HALO / YouTube screenshot “Halo Infinite” marked a massive shift in the franchise after introducing its online multiplayer mode ... Read more »

Vivo X70 Pro surpasses the iPhone 13 on DxOMark's list of best smartphone cameras

The Vivo X70 Pro+ was unveiled last year, offering one of the best camera setups of any Android flagship. The Vivo X70 Pro+ currently ranks eighth on DxOMark’s list of best ... Read more »

OnePlus 9RT vs Xiaomi 11T Pro vs iQOO 7 Legend vs Realme GT 5G: Comparing India's best flagship killers

OnePlus just dropped a new smartphone in India’s affordable flagship segment. For a price of Rs 42,999, the OnePlus 9RT brings flagship specifications, making it one of the country’s first flagship ... Read more »

Christian Dior slammed for 'unfair' sales policy

By Kim Jae-heun LVMH Korea President Cho Hyun-ouk An increasing number of consumers are criticizing French fashion brand Christian Dior over a controversial sales policy. The company has informed customers ... Read more »

Consumers refrain from ordering delivery on soaring fees

A driver delivers food on his scooter in Seoul in this 2020 file photo. Yonhap By Kim Jae-heun More and more consumers are visiting restaurants to pick up their online-ordered ... Read more »

Nadine Dorries declares an end to TV licence fee - but BBC warns move will have 'serious implications'

Nadine Dorries said the next announcement about the BBC licence fee ‘will be the last’ – Steve Parsons Nadine Dorries has declared an end to the BBC licence fee, prompting ... Read more »

‘Cyberpunk 2077' patch: CD Projekt Red could be close to releasing the first major update for 2022

From the “Cyberpunk 2077” gameplay trailer | Photo credit: Cyberpunk 2077 channel / YouTube screenshot Aside from all-new titles, video game fans are also looking forward to some significant updates ... Read more »

Yoon-related stocks spike after passing 'Kim phone call risk'

The main opposition People Power Party’s presidential candidate Yoon Suk-yeol is seen with his wife Kim Keon-hee on MBC’s program airing contents of phone calls between Kim and a YouTuber, ... Read more »

Consumers dissatisfied with low 5G quality

Seen is a store in downtown Seoul that sells telecommunication services for SK Telecom, KT and LG Uplus smartphones. Yonhap By Baek Byung-yeul Korea’s major telecommunications companies ― SK Telecom, ... Read more »

LG Household sinking into deeper trouble

LG Household & Health Care headquarters in Seoul / Courtesy of LG H&H Cosmetics maker suspected of violating disclosure rules LG H&H Vice Chairman and CEO Cha Suk-yong / Korea ... Read more »

Singapore tells crypto firms not to market services to public

This illustration photograph shows a physical banknote and coin imitations of the Bitcoin cryptocurrency. (Photo: AFP) Singapore's financial regulator told companies in the cryptocurrency industry to refrain from advertising their ... Read more »

Pandemia e Smart Working: software per accesso remoto sempre più importanti

Purtroppo sembra che la pandemia da Covid-19 sia destinata a durare ancora molto a lungo. Ora stiamo vivendo un momento particolarmente difficile, ma è lecito sperare che presto arriveranno tempi ... Read more »

Korea Shipbuilding bags cargo ship orders valued at combined 511 bln won

SEOUL, Jan. 17 (Yonhap) — Korea Shipbuilding & Offshore Engineering Co. (KSOE) said Monday it has secured 511 billion won (US$428.4 million) in orders to build five cargo vessels. Under ... Read more »

‘WWE 2K22' release date: Rey Mysterio featured in Standard and Deluxe Edition covers, pre-order perks include Undertaker add-ons

From the “WWE 2K22” Hit List teaser trailer | Photo credit: WWE 2K / YouTube screenshot Long-time fans of WWE and pro wrestling may have more reasons to look forward ... Read more »

HDC chief steps down over collapse of Gwangju apartment building

HDC Hyundai Development Chairman Chung Mong-gyu bows in apology and to take responsibility for a fatal accident that occurred at its construction site in Gwangju during a press conference held ... Read more »

Vivo Y21e launched in India with Snapdragon 680 SoC and 5,000 mAh battery: All you need to know

The Vivo Y21e recently went official in India. The Y21e is a budget smartphone that features a Snapdragon chipset, a large battery, and a dual-camera setup. Additionally, the Vivo Y21e ... Read more »

iPad Air 5 release date: Apple could announce the new tablet with iPhone SE 3 in spring

Apple iPad Air 4 | Photo credit: Sanjeev Mohindra / Unsplash The first half of 2022 might be a busy one for Apple based on the rumored products to launch in the coming ... Read more »

KT, Shinhan ink cross-shareholding deal to forge digital alliance

Shinhan Bank’s Digilog branch in Seodaemun-gu, Seoul (Shinhan Bank)South Korea’s No. 2 telecom carrier KT and the nation’s second-largest banking group Shinhan Financial Group said Monday that they have forged ... Read more »

iPhone users, this Safari bug may leak your browsing history and personal information

A security bug in Apple’s Safari browser is said to reveal information about users’ browsing history, including details of logged in Google accounts. Security firm FingerprintJS has published a report ... Read more »

Naver Financial promotes CFO to CEO

Park Sang-jin By Lee Kyung-min Naver Financial has named Naver CFO Park Sang-jin as its new CEO, replacing its scandal-ridden incumbent Choi In-hyuk, Monday. The financial subsidiary of the country’s ... Read more »

iPad Pro 2022 prototypes reportedly support MagSafe with larger battery and faster charging rate

Photo credit: Brandon Romanchuk / Unsplash Apple might be just a few months away from its first product launch event of the year, where the 2022 iPad Pro series could be unveiled. The ... Read more »

Starwatch: full moon to pass through three constellations

chart This week, the full moon will cruise through three zodiacal constellations. First Gemini, the twins; then Cancer, the crab; and finally Leo, the lion. The chart shows the view ... Read more »

HDC chairman resigns over series of Gwangju accidents

HDC Chairman Chung Mong-gyu apologizes at a press conference in Seoul, Monday. (Yonhap)Hyundai Development Company Chairman Chung Mong-gyu stepped down Monday, apologizing for two fatal accidents at the builder‘s construction ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic