Dealroom – UK Innovation Update, 1Q 2024

In the first quarter of 2024, UK startups raised $3.9B in VC investments, showing a stabilisation in investment levels compared to the global reset in late 2022. Early-stage investments saw an increase, while Series B and C investments remained steady. Fintech reclaimed its position as the most funded startup sector in the UK, raising $1.4B in Q1 2024. Emerging technology segments like semiconductors and quantum computing, particularly in science hubs like Cambridge and Oxford, have been gaining momentum. Despite this, the UK maintains its leadership position in venture capital in Europe, outpacing Germany and France in funding raised. Additionally, Edinburgh and Brighton have emerged as the fastest-growing hubs for venture capital in 2024, alongside London as the top city for VC investments in the UK and Europe. The UK continues to rank third globally in VC investments, ahead of countries like India.