BERLIN, Germany

The total startup investments in EU increased by 46% in 2019 to €31.1 billion (nearly $34 billion) compared to the previous year, and a huge decrease in these investments is expected this year due to the coronavirus.

Audit and consultancy firm EY on Tuesday published its report on startup investments in Europe.

Despite Brexit, the U.K. remained a leader in financing startups in the EU last year, with a total investments of startups increasing by 54% in 2019 to reach $11.1 billion compared to the previous year.

The total investments of startups in Germany, which has the largest

Read more: Startup investments hit nearly $34B in Europe in 2019