As per the new research released in London on Thursday, investment in Bengaluru grew 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020. Investment Mumbai grew 1.7 times from $0.7 billion to $1.2 billion in the same period.
Bengaluru, the IT capital of India with around 10 million populations, has emerged as the world's fastest-growing mature tech ecosystem since 2016, followed by the European cities of London, Munich, Berlin and Paris.
India's financial centre Mumbai has ranked sixth, as per the new research released in London on 14 January.
Dealroom.co data analysed by London & Partners – the Mayor of London's international trade and investment agency – reveals that investment in the Karnataka capital of Bengaluru grew 5.4 times from $1.3 billion in 2016 to $7.2 billion in 2020, with the Maharashtra capital of Mumbai growing 1.7 times from $0.7 billion to $1.2 billion in the same period, reported news agency PTI.
Meanwhile, London registered an impressive three times growth between 2016 and 2020, rising 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.
"London has a strong trade and investment relationship with cities across India and today's figures show the opportunities for future partnerships between the UK and India on technology. Despite the pandemic, tech companies in London and India are continuing to lead the way in creating game-changing technologies – especially in high growth sectors such as EdTech and Fintech," he said.
"The UK government's recent Brexit deal with the European Union brings certainty for Indian companies and investors looking to London and we look forward to welcoming more Indian…