Irish tech companies raised a record €932 million in first 6 months of 2021
by Startacus Admin
Latest TechIreland Startup Funding Review reveals that 2021 has been a record breaking year so far for Irish tech companies
Good news to start the week with the publication of TechIreland’s Startup Funding Review which reveals that a record €932 million has been raised by 101 Irish tech companies in the first half of the year.
The money was raised from a variety of sources, including venture capital, debt finance, grants and crowdfunding and the top 10 largest investments actually account for 70% of the funding raised. There was an increase in the number of early stage rounds compared to the same period last year and the HealthTech sector accounted for a major share of the total once again with 27 companies raising €439 M, including Mainstay Medical who raised €130 M and Galway based Neurent Medical who raised €20 M.
It was also a successful period for the FinTech sector with 13 FinTechs raising €205 M and some significant developments including Fenergo achieving unicorn status and the acquisition of Taxamo by Vertex. Enterprise Solutions saw the most number of companies raising funding with 31 companies raising €126 M whilst other notable winners were SaaS businesses who raised €97 M and medical devices who raised €176 M.
Despite the record levels of funding, the report also underlines a few concerns including a regional imbalance in funding with Dublin companies taking in 82% of the total and a decline in funding for companies with female founders.
In addition to details on the funding raised, the report also features commentary from a host of experts including Redmond O’Leary of InterSystems on Ireland’s standing in the global FinTech space, John Phelan of HBAN on angel investments, Chris Burge of Spark Crowdfunding on how crowdfunding is becoming more popular among Irish startups, Gary Davidson of Tech Nation UK and Startacus’ very own Alastair Cameron sharing insights on Northern Ireland’s startup funding this year.
Interested in finding out more? Check out the full report here!
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Published on: 27th September 2021
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