Venture capital (VC) funding in UK startups has reached $10.1 billion through 673 deals during January-August 2024.
This compares with 908 VC funding deals worth $8.8 billion during the first eight months of 2023.
This marks a year-over-year improvement of 14.8 percent in total funding value despite a 16 percent decline in VC deals volume compared to January-August 2023, according to GlobalData.
UK was the best VC investment destination in the world after the US and China during January-August 2024. It was also among the top five markets globally in terms of VC deal volume, Aurojyoti Bose, Lead Analyst at GlobalData, said.
The UK accounted for 7.1 percent share of the total number of VC deals globally during January-August 2024 while its share in terms of the total disclosed funding value stood at 6.2 percent.
Some of the notable VC funding deals announced in the UK during January-August 2024 include $1.05 billion worth of funding raised by Wayve Technologies, $1 billion raised by Abound, $431 million raised by Monzo, and $200 million worth funding raised by DNEG Group.
