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Sarah UKFast | Account Manager

UK Firms Get Venture Capital for Web Projects

23 January 2007 by Mother Superior

There’s an interesting piece about UK companies attracting investment in 2006 that provides an insight into some big developments coming online this year.

Paul Fisher provides a great list of all the venture capital ploughed into European companies last year. I’ve concentrated on the UK investment and it seems to present a varied mix of sectors across 21 companies.

I had expected social networking and video on demand to play a majority part but the list provides a couple of glimpses into possible future ground breakers.

Creating communities accounts for 30 per cent of the deals with companies from Bebo through to Mind Candy (Second Life potential) receiving funding. Retail sites have also done well with 4 receiving around £20m between them – the majority going to

An area of Web 2.0 represented less strongly is Video and audio provision, with only Last FM and web TV site Aggregator getting the nod. It’s likely that Venture capitalists are staying out of this field because of the provisions already being networked by the big national broadcasters.

Two surprise entries in the list are ticket vending sites, specialising mainly in concert and sports ticketing. The most revealing ones for me tend to revolve around new technologies. Skinkers is a device-to-device RSS tool allowing us to receive our web information in various forms and Yuuguu connects remote workers allowing them to share collaborative efforts more rewardingly and efficiently.