The value of venture capital deals in Ireland declined 18% last year, reflecting the effect of global funding pressures on the start-up ecosystem, according to KPMG‘s latest Venture Pulse report.
There were 98 VC investments worth a combined $627.8m in Irish companies last year, down from 101 worth $764.1m in 2023 while the value of VC deals globally rose from $349.4bn to 35,684 worth $368.3bn despite deal volumes dropping to a seven-year low of 35,684 amid ongoing geopolitical uncertainty and a protracted IPO drought.
In the fourth quarter of 2024, the number of Irish VC deals increased to 29 from 26 during the same period in 2023, and their value increased 46% to $255.2m from $174.8m.
Several Q4 deals raised more than $40m, including the $48m Series A funding round for Dublin-based travel tech infrastructure start-up Nuitée.
Dublin-based Nuritas, a company specialising in AI-powered peptide discovery, secured $42m in Series C funding round.
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