During January-October 2023, the UK saw the announcement of 1,098 venture capital (VC) funding deals totaling $12 billion, according to insights from GlobalData, a leading data and analytics company. This period marked a decline in both deal volume and value compared to VC funding activities recorded from January-October 2022. Specifically, VC deal volume decreased by 26%, falling from 1,483 deals in 2022 to 1,098 in 2023, while the disclosed funding value witnessed a YoY drop of 43.6%, declining from $21.2 billion in 2022 to $12 billion in 2023.
Aurojyoti Bose, Lead Analyst at GlobalData, noted that despite the setback in VC funding activity in 2023, the UK remained one of the few countries surpassing $10 billion in total VC funding deal value during January-October. The UK holds a prominent position as the leading European market for VC funding activity and ranks among the top five globally in both deals volume and value.
The UK contributed to 6.5% of the total global VC funding deals during January-October 2023, with its share of the disclosed funding value standing at 5.9%. Some noteworthy VC funding deals in the UK during this period included Conigital raising $623 million, Abound securing $602 million, Spendology raising $367.7 million, Builder.ai securing $250 million, EToro raising $250 million, Apollo Therapeutics securing $226.5 million, Oxbotica raising $140 million, Raylo Group securing $136 million, and ZYBER 365 obtaining $100 million.
It’s important to note that historic data may undergo changes if additional deals are added due to delayed disclosure of information in the public domain.
Source: mondovisione