British AI-powered security startup Darktrace has enjoyed a bumper IPO Friday as its shares climbed 40 per cent on its London Stock Exchange debut.
Raising £165m for the Cambridge-based cyber-security company and its backers, the IPO offered an opening value of £1.7bn.
Darktrace's technology purports to provide "Enterprise Immune Systems” designed to use machine learning to identify and respond to threats and incidents across cloud, IoT, virtualized networks and industrial control systems.
The success of the IPO will come as a relief to the City of London in its ambition to be a home for tech investors, following the flop of the take-away-to-your-door app and fellow UK startup Deliveroo, which lost 26 per cent on its debut.
UK chancellor of the exchequer Rish ..
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