The UK witnessed the announcement of a total of 1,002 venture capital (VC) funding deals during January-October 2024, marking a year-on-year (YoY) decline of 11.4% in deal volume. However, the corresponding value of these deals improved by 18.6% YoY to $14.3 billion during the same period, according to GlobalData a leading data and analytics company.
An analysis of GlobalData’s Deals Database revealed that the UK had witnessed the announcement of a total of 1,131 VC deals during January-October 2023, while the disclosed funding value of these deals stood at $12 billion.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The UK stood at the third position by total funding value and was also among the top three countries globally by the number of VC deals as well during January-October 2024. Even though the country experienced a decrease in the volume of VC deals, the corresponding funding improved on the back of some big-ticket deal announcements.”
The number of VC deals valued more than or equal to $100 million announced in the UK increased from 19 during January-October 2023 to 24 during January-October 2024. These include some billion-dollar deals as well.
Some of the notable VC funding deals announced in the UK during January-October 2024 include $1.05 billion worth of funding raised by Wayve Technologies, $1 billion raised by Abound, $500 million fundraising by Core Power, $431 million raised by Monzo, and $267 million worth of funding raised by Zepz, among others.
The UK accounted for 7.3% share of the total number of VC deals announced globally during January-October 2024, while its share of the corresponding funding value stood at 6.5%.
