The news comes as Britain sees a surge in UK based so-called Unicorn enterprises, often involved in the tech industry. In business, a unicorn is a privately held startup company valued at over £850million ($1billion). The term was first popularised in 2013 by venture capitalist Aileen Lee, choosing the mythical animal to represent the statistical rarity of such successful ventures
Taking to Twitter to celebrate the news, Andrew Neil said: “Britain leads the investment boom in the European tech industry, with more than $100billion of venture capital invested this year, 3 times 2020.”
He continued: “UK top of capital invested + no. of unicorns created. Cambridge designated unicorn capital of Europe.”
Such companies located in the University city include Cambridge Mobile Telematics, providing full-stack telematics solutions and valued at £1.13billion ($1.5billion), CMR Surgical, providing the latest in modern surgical technology, valued at £750m ($1billion), and EQRx, a biotechnology company specializing in turning existing drugs into generic versions, valued at £923million ($1.23billion). Express.
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