UK Startups Raise $12 Billion Venture Capital Funding During January-October 2023, Finds GlobalData

A total of 1,098 venture capital (VC) funding deals worth $12 billion were announced in the UK during January-October 2023. Both deal volume and value recorded year-on-year (YoY) decline compared to the VC funding activity registered during January-October 2022, reveals GlobalData, a leading data and analytics company.


An analysis of GlobalData’s Financial Deals Database reveals that VC deal volume declined by 26% during January-October 2023 compared to the 1,483 deals announced during the same period in 2022. Meanwhile, the corresponding disclosed funding value fell by 43.6% YoY compared to $21.2 billion during January-October 2022.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although the UK experienced significant setback in VC funding activity in 2023, it was still among the few select countries that managed to surpass $10 billion in total VC funding deal value during January-October. The UK, apart from the being the top European market for VC funding activity, is also among the top five markets globally both in terms of deals volume and value.”

The UK accounted for 6.5% of the total number of VC funding deals announced globally during January-October 2023. Meanwhile, its share of the total disclosed funding value stood at 5.9%.

Some of the notable VC funding deals announced in the UK during January-October 2023 include $623 million raised by Conigital, $602 million raised by Abound, $367.7 million worth of funding raised by Spendology, $250 million secured by Builder.ai, $250 million raised by EToro, $226.5 million raised by Apollo Therapeutics, $140 million raised by Oxbotica, $136 million raised by Raylo Group and $100 million secured by ZYBER 365.

Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.


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