United Kingdom’s startup ecosystem has faced a year-on-year decline in venture capital (VC) funding during the initial two months of 2024, according to findings from GlobalData.
UK has sustained its influential position within Europe’s venture capital landscape by securing $1.4 billion across 152 deals.
An in-depth analysis of GlobalData’s Deals Database reveals a 35.9 percent decrease in VC deal volume in the UK, accompanied by a corresponding 39 percent drop in deal value compared to the same period last year. In contrast, during the first two months of 2023, the UK witnessed 237 deals, amounting to $2.4 billion in disclosed funding value.
The UK stood out as the sole European market to surpass triple-digit deal volume in January-February 2024. Furthermore, UK continues to assert itself as a significant global player, ranking among the top five countries in both deal volume and value during the review period.
UK VC Funding Landscape
During January-February 2024, UK accounted for 6.6 percent of the total number of VC deals announced globally, with its share of the corresponding deal value standing at 4.3 percent.
Several noteworthy VC funding deals were sealed within the UK during this period, including Exohood Labs securing $112 million and Build A Rocket Boy raising $110 million.
