Irish tech companies raise 552m during first half of the year [Video]

Irish tech companies raised €552m during the first half of the year following a strong second quarter for fundraising, according to TechIreland.

A total of 172 tech firms raised funds in the first six months of 2024, including 62 that raised €383m in Q2, up from €323m for 113 companies during the same period last year.

However, funding for late seed and Series A rounds of between €1-4m was static at around €30m, reflecting the difficulty of attracting international investors for relatively small funds.

“This late seed stage is a grey zone that is underserved by domestic funds. Funding for these late seed stage companies remains significantly below previous quarters and previous years,” said TechIreland.

Large later-stage investments that attracted significant international funds were largely responsible for the increase in funding activity.

Around €275m were raised by six companies in +Series B rounds of €15-40m, up from less than €100m in Q1.

Dublin attracted around …