Glad to see a non London company added themselves - there's a lot more to the UK startup scene that what is going on in London. In fact there are many reasons against starting a company in London
The UK was built on trade and engineering that mostly started outside London to avoid the Guilds and their stupid rules. I think being outside London gets you closer to these skills and experience and makes you focus more on building a business and less on following international, sexy hype.
I say it a lot but the best place to make money is in unsexy markets, and outside London there are a shed load of unsexy markets desperate for young start ups to dive in.
Don't get me wrong, there are some incredible companies in London doing amazingly well but there is a lot of dross too.