Year 2022
February 2022

Britain sees record investment in 10-billion-pound cyber sector

February 17, 2022
By Reporting by Paul Sandle. Editing by Andrew MacAskill

FILE PHOTO: A projection of cyber code on a hooded man is pictured in this illustration picture taken on May 13, 2017.REUTERS/Kacper Pempel

LONDON : British cyber security firms raised more than 1 billion pounds ($1.36 billion) in 84 deals last year, as foreign investors tapped into growth in capabilities such as network security and threat monitoring, government data showed on Thursday.

Companies that received new investment included Bristol-based Immersive Labs, which raised 53.5 million pounds, and London-headquartered Tessian, which secured more than 52 million pounds, the government said in its Annual Cyber Sector Report.

Employment across the industry rose 13per cent, with more than 6,000 new jobs created, to bring the total number of people working in cyber in Britain to 52,700, the report said.

($1 = 0.7359 pounds)

Source: Reuters

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