Bengaluru overtakes London to emerge as world's fastest-growing tech hub

Fri Jan 15 2021 10:31:28 GMT+0530 (IST)

The capital city of Karnataka, Bengaluru, which enjoys one of the largest IT industrial parks in the country that is spread to more than 800 acres added one more feather to its cap.

A recent survey conducted by the  International investment and promotion agency London & Partners stated that Bengaluru became the fastest-Growing Tech Hub in the world, by overtaking London.

The outcome of the survey is that, in the past few years, the investments in Bengaluru increased by 5.4x times, while London stood in second place with a growth of investments by 3 times.

As per the findings of the firm, Bengaluru attracted an investment of $1.3 billion in 2016 which increased to a whopping $7.2 billion in 2020.

The survey ranked the European cities Munich, Berlin, and Paris, third, fourth, and fifth in the list in terms of attracting fundings followed by the financial capital of India, Mumbai which stood at sixth place.

Coming to the UK Capital London, in 2016 it received an investment of $3.5. In 2020, the investment increased by three times taking the investment worth to $10.5 billion.

The IT capital of India has also bagged a sixth place in the list of the world's tech venture capitalist (VC) investments, while Mumbai stood at 21st place in the list.