Bengaluru tops London for world’s fastest-growing tech hub tag, Mumbai 6th on list

timesnownews said that Bengaluru tops London for world’s fastest-growing tech hub tag, Mumbai at 6th on listBengaluru tops London for world’s fastest-growing tech hub tag, Mumbai at 6th on list | Photo Credit: PTIKEY HIGHLIGHTSVC investments in India’s IT hub Bengaluru grew 5.7 times between 2016 and 2020London, the second city on the list, registered a three-fold growth between 2016-2020 from $3.5 billion to $10.5 billion. Sixth on the list, VC investments in Mumbai grew by 1.7 times in the period
Bengaluru has emerged as the world’s fastest-growing tech hub since 2016 followed by European cities such as London, Munich, Berlin and Paris. India’s financial capital Mumbai is on the sixth position shows new research released in London on Thursday.

Dealroom.co data analysed by London & Partners, the Mayor of London’s International trade and investment agency, showed that investment in Bengaluru, dubbed India’s own Silicon Valley, grew 5.4 times in four years from $0.7 billion in 2016 to $7.2 billion in 2020. Meanwhile, investments in Maharashtra’s Mumbai increased by 1.7 times from $0.7-$1.2 billion during the four-year period, as per news agency PTI.

London, the second city on the list, registered a three-fold growth between 2016-2020 from $3.5 billion to $10.5 billion.

“It’s fantastic to see that Bengaluru and London ranked as the top two fastest-growing global tech hubs for VC investment. Our two great cities share mutual strengths in entrepreneurship and innovation, creating lots of opportunities for tech investors and companies to do business across both regions,” said Hemin Bharucha, Chief Representative of India at London & Partners.

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