Dealroom – UK Innovation Update, Q3 2024

In Q3 2024, UK startups raised $2.9B in fresh funding, with a focus on breakout stages such as Series B and C rounds. Despite a slowdown over the summer, UK startups are still tracking similarly to 2023. The UK leads in Femtech and Fintech, with the largest funding round of $200M raised by London-based femtech startup Flo. Healthtech startups in the UK raised $1B, pushing the sector to second place for total funding in 2024, with Fintech retaining the top spot at $3.3B. UK-based VC investors are on track to raise a record $12.2B in new funds in 2024. The UK remains the top tech hub in Europe by venture capital raised, surpassing France and Germany combined with $12.4B raised in the first three quarters of 2024, with London alone raising $8.7B. Major new funds were raised by established investors and newer entrants, solidifying the UK's position as a leading destination for tech investment.