UK startups have raised £5.4bn in VC funding since January, finds GlobalData

Startups across the UK have been involved in a total of 497 venture capital (VC) deals since the start of 2024 for a total disclosed value of £5.4 billion, a new report from GlobalData has revealed.

This represents 1.6 per cent year-on-year growth in VC funding value for January to May 2024, despite deal volume declining by 17.3 per cent.

A total of 601 VC deals were announced during the same period in 2023, though the disclosed funding value of these deals stood at £5.3 billion.

Aurojyoti Bose, lead analyst at GlobalData, said: “The decline experienced in deal volume in the UK from January to May 2024 was in line with the global trend, wherein top markets such as the US and China also witnessed a fall in the number of deals.

“The UK stands as the top European market for VC funding activity and was also among the top five markets globally both in terms of VC deals volume and value from January to May.”