The UK tech sector has reached a combined market valuation of $1.2 trillion, cementing its place as the number one tech ecosystem in Europe.
UK tech is growing at a CAGR of 12.5%.
UK
Germany
France
Netherlands
Sweden
Switzerland
UK
Germany
France
Netherlands
Sweden
Switzerland
UK
Germany
France
Netherlands
Sweden
Switzerland
UK
Germany
France
Netherlands
Sweden
Switzerland
View data
View data
View data
View data
The UK has played a central role in our company’s success, and we expect that to continue in the months and years ahead.
Mati Staniszewski
ElevenLabs
The UK has proven itself as a powerhouse for startup innovation. The key is to ensure that high-potential tech companies have all the support they need to grow.
Dame Jayne-Anne Gadhia
Moneyfarm
The UK has rightly earned its reputation as Europe's startup hub. Expanding access to digital infrastructure and skills, fostering regulation that fuels innovation, and ensuring the UK remains a magnet for investment are key.
Darren Hardman
Microsoft UK
The UK tech sector faces intense competition. All companies are struggling with how to ensure their teams are upskilled and developed to meet the demands and technology capabilities of tomorrow, but doing so is critical to survival.
Euan Blair
Multiverse
At a pivotal moment in its evolution, the UK tech sector has built a thriving startup ecosystem that now faces the critical challenge of scale.
James Petter
Snowflake
The UK has played a central role in our company’s success, and we expect that to continue in the months and years ahead.
Mati Staniszewski
ElevenLabs
The UK has proven itself as a powerhouse for startup innovation. The key is to ensure that high-potential tech companies have all the support they need to grow.
Dame Jayne-Anne Gadhia
Moneyfarm
The UK has rightly earned its reputation as Europe's startup hub. Expanding access to digital infrastructure and skills, fostering regulation that fuels innovation, and ensuring the UK remains a magnet for investment are key.
Darren Hardman
Microsoft UK
The UK tech sector faces intense competition. All companies are struggling with how to ensure their teams are upskilled and developed to meet the demands and technology capabilities of tomorrow, but doing so is critical to survival.
Euan Blair
Multiverse
At a pivotal moment in its evolution, the UK tech sector has built a thriving startup ecosystem that now faces the critical challenge of scale.
James Petter
Snowflake
London's tech sector is worth $694b and is home to 119 all-time unicorn companies.
London's tech sector is growing at a CAGR of 12% and tech companies raised $10.8b in VC investment last year.
London
South West
South East
East of England
East Midlands
West Midlands
Wales
Yorkshire & the Humber
North West
Scotland
North East
Northern Ireland
Regions
Unicorns
London
Value
$694b
12%
2025
2020
$693.7b
$693.7b
$610.5b
$610.5b
0
$140B
$280B
$420B
$560B
$700B
Growth in value
12%
(2020-25), CAGR
VC Investment
$10.8b
-5.1%
2024
2020
$10.8b
$10.8b
$11.4b
$11.4b
0
$6B
$12B
Growth in VC investment
-5.1%
(2020 vs 2024)%
*Data from Dealroom, Data recorded May 2025
London's tech sector is worth $694b and is home to 119 all-time unicorn companies.
London's tech sector is growing at a CAGR of 12% and tech companies raised $10.8b in VC investment last year.
London
South West
South East
East of England
East Midlands
West Midlands
Wales
Yorkshire & the Humber
North West
Scotland
North East
Northern Ireland
Regions
Unicorns
London
Value
$694b
12%
2025
2020
$693.7b
$693.7b
$610.5b
$610.5b
0
$140B
$280B
$420B
$560B
$700B
Growth in value
12%
(2020-25), CAGR
VC Investment
$10.8b
-5.1%
2024
2020
$10.8b
$10.8b
$11.4b
$11.4b
0
$6B
$12B
Growth in VC investment
-5.1%
(2020 vs 2024)%
*Data from Dealroom, Data recorded May 2025
London's tech sector is worth $694b and is home to 119 all-time unicorn companies.
London's tech sector is growing at a CAGR of 12% and tech companies raised $10.8b in VC investment last year.
London
South West
South East
East of England
East Midlands
West Midlands
Wales
Yorkshire & the Humber
North West
Scotland
North East
Northern Ireland
Regions
Unicorns
Greater London
Value
$694b
12%
2025
2020
$693.7b
$693.7b
$610.5b
$610.5b
0
$140B
$280B
$420B
$560B
$700B
Growth in value
12%
(2020-25), CAGR
VC Investment
$10.8b
-5.1%
2024
2020
$10.8b
$10.8b
$11.4b
$11.4b
0
$6B
$12B
Growth in VC investment
-5.1%
(2020 vs 2024)%
*Data from Dealroom, Data recorded May 2025
London's tech sector is worth $694b and is home to 119 all-time unicorn companies.
London's tech sector is growing at a CAGR of 12% and tech companies raised $10.8b in VC investment last year.
London
South West
South East
East of England
East Midlands
West Midlands
Wales
Yorkshire & the Humber
North West
Scotland
North East
Northern Ireland
Regions
Unicorns
Greater London
Value
$694b
12%
2025
2020
$693.7b
$693.7b
$610.5b
$610.5b
0
$140B
$280B
$420B
$560B
$700B
Growth in value
12%
(2020-25), CAGR
VC Investment
$10.8b
-5.1%
2024
2020
$10.8b
$10.8b
$11.4b
$11.4b
0
$6B
$12B
Growth in VC investment
-5.1%
(2020 vs 2024)%
*Data from Dealroom, Data recorded May 2025
The UK AI sector is worth $230b and startups raised $1.03b in Q1 2025.
Sector
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AI
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
Sector value
AI Value
Exits
AI Exits
Yearly
Quarterly
0
11
Q1-2024
0
6
Q2-2024
12
Q3-2024
1
1
17
Q4-2024
8
Q1-2025
Acquisitions
IPOs
Investment
UK AI
Full data
Year
Quarterly
$2b
$1.5b
$1b
$500m
0
Q1-2024
Q2-2024
Q3-2024
Q4-2024
Q1-2025
Pre-seed ($0—1.0m)
Seed ($1.0—4.0m)
Series A ($4.0—15.0m)
Series B ($15.0—40.0m)
Series (C $40.0—100m)
Late Growth ($100—250m)
Mega ($250m+)
Unicorns
Name
HQ city
Category
Year company became unicorn
Flo Health
London
Health
2024
Wayve
London
Robotics; Transportation
2024
Quantexa
London
Fintech; Enterprise Software
2023
Synthesia
London
Media
2023
Load More
AI
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
"The UK’s AI talent pool is a hidden gem, offering world-class expertise without Silicon Valley competition and salaries."
“The UK has a unique opportunity to position itself as a global leader in AI."
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
Hovhannes Avoyan
Picsart
Husayn Kassai
Quench.ai
Ieva Balciute
93 INC
The UK AI sector is worth $230b and startups raised $1.03b in Q1 2025.
Sector
AI
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
Sector value
AI Value
Exits
AI Exits
Yearly
Quarterly
0
11
Q1-2024
0
6
Q2-2024
12
Q3-2024
1
1
17
Q4-2024
8
Q1-2025
Acquisitions
IPOs
Investment
UK AI
Full data
Year
Quarterly
$2b
$1.5b
$1b
$500m
0
Q1-2024
Q2-2024
Q3-2024
Q4-2024
Q1-2025
Pre-seed ($0—1.0m)
Seed ($1.0—4.0m)
Series A ($4.0—15.0m)
Series B ($15.0—40.0m)
Series (C $40.0—100m)
Late Growth ($100—250m)
Mega ($250m+)
Unicorns
Name
HQ city
Category
Year company became unicorn
Flo Health
London
Health
2024
Wayve
London
Robotics; Transportation
2024
Quantexa
London
Fintech; Enterprise Software
2023
Synthesia
London
Media
2023
Load More
AI
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
"The UK’s AI talent pool is a hidden gem, offering world-class expertise without Silicon Valley competition and salaries."
“The UK has a unique opportunity to position itself as a global leader in AI."
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
Hovhannes Avoyan
Picsart
Husayn Kassai
Quench.ai
Ieva Balciute
93 INC
The UK AI sector is worth $230b and startups raised $1.03b in Q1 2025.
Sector
AI
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
Sector value
AI Value
Exits
AI Exits
Yearly
Quarterly
11
2020
6
28
2021
1
1
37
2022
2
2
29
2023
1
1
46
2024
Acquisitions
IPOs
Investment
UK AI
Full data
Year
Quarterly
$5b
$4b
$3b
$2b
$1b
0
2020
2021
2022
2023
2024
Pre-seed ($0—1.0m)
Seed ($1.0—4.0m)
Series A ($4.0—15.0m)
Series B ($15.0—40.0m)
Series (C $40.0—100m)
Late Growth ($100—250m)
Mega ($250m+)
Unicorns
Name
HQ city
Category
Year company became unicorn
Flo Health
London
Health
2024
Wayve
London
Robotics; Transportation
2024
Quantexa
London
Fintech; Enterprise Software
2023
Synthesia
London
Media
2023
Load More
AI
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
"The UK’s AI talent pool is a hidden gem, offering world-class expertise without Silicon Valley competition and salaries."
“The UK has a unique opportunity to position itself as a global leader in AI."
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
Hovhannes Avoyan
Picsart
Husayn Kassai
Quench.ai
Ieva Balciute
93 INC
The UK AI sector is worth $230b and startups raised $1.03b in Q1 2025.
Sector
AI
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
Sector value
AI Value
Exits
AI Exits
Yearly
Quarterly
0
11
Q1-2024
0
6
Q2-2024
12
Q3-2024
1
1
17
Q4-2024
8
Q1-2025
Acquisitions
IPOs
Investment
UK AI
Full data
Year
Quarterly
$2b
$1.5b
$1b
$500m
0
Q1-2024
Q2-2024
Q3-2024
Q4-2024
Q1-2025
Pre-seed ($0—1.0m)
Seed ($1.0—4.0m)
Series A ($4.0—15.0m)
Series B ($15.0—40.0m)
Series (C $40.0—100m)
Late Growth ($100—250m)
Mega ($250m+)
Unicorns
Name
HQ city
Category
Year company became unicorn
Flo Health
London
Health
2024
Wayve
London
Robotics; Transportation
2024
Quantexa
London
Fintech; Enterprise Software
2023
Synthesia
London
Media
2023
Load More
AI
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
"The UK’s AI talent pool is a hidden gem, offering world-class expertise without Silicon Valley competition and salaries."
“The UK has a unique opportunity to position itself as a global leader in AI."
"AI is a powerful catalyst for productivity and inclusion in the UK economy, accelerating development cycles, reducing operational costs, and removing reliance on costly, highly technical skills."
Hovhannes Avoyan
Picsart
Husayn Kassai
Quench.ai
Ieva Balciute
93 INC
UK VCs raised 67 new funds in 2024 worth $11.2b, up 57% compared with the previous year.
Number of new VC funds raised
New Funds
Amount Raised
Annual
Quarterly
UK
France
Germany
View data
UK VCs raised 67 new funds in 2024 worth $11.2b, up 57% compared with the previous year.
Number of new VC funds raised
New Funds
Amount Raised
Annual
Quarterly
UK
France
Germany
View data
UK VCs raised 67 new funds in 2024 worth $11.2b, up 57% compared with the previous year.
Number of new VC funds raised
New Funds
Amount Raised
Annual
Quarterly
UK
France
Germany
View data
UK VCs raised 67 new funds in 2024 worth $11.2b, up 57% compared with the previous year.
Number of new VC funds raised
New Funds
Amount Raised
Annual
Quarterly
UK
France
Germany
View data
The typical size of an early-stage funding round in the UK is $1.9m with deep tech startups raising the biggest rounds
Overall
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
All
Early-stage
Growth-stage
Late-stage
![](data:image/svg+xml,<svg display="block" role="presentation" viewBox="0 0 24 24" xmlns="http://www.w3.org/2000/svg"><path d="M 7 14 C 10.866 14 14 10.866 14 7 C 14 3.134 10.866 0 7 0 C 3.134 0 0 3.134 0 7 C 0 10.866 3.134 14 7 14 Z" fill="transparent" height="14px" id="hnMf20LJB" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(2 2)" width="14px"/><path d="M 7 14 C 10.866 14 14 10.866 14 7 C 14 3.134 10.866 0 7 0 C 3.134 0 0 3.134 0 7 C 0 10.866 3.134 14 7 14 Z" fill="transparent" height="14px" id="L25YiAYi_" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(8 8)" width="14px"/></svg>)
Overall
$1.9m
$1.9m
AI
$2.4m
$2.4m
![](data:image/svg+xml,<svg display="block" role="presentation" viewBox="0 0 24 24" xmlns="http://www.w3.org/2000/svg"><path d="M 0 0 L 0 4" fill="transparent" height="4px" id="qaqJpFnpw" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(12 6)" width="1px"/><path d="M 4 0 L 0 0" fill="transparent" height="1px" id="CKzJMYfVE" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(10 14)" width="4px"/><path d="M 4 0 L 0 0" fill="transparent" height="1px" id="XBX2i9WPr" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(10 18)" width="4px"/><path d="M 4 0 L 0 0" fill="transparent" height="1px" id="yTuiPvD3K" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(10 8)" width="4px"/><path d="M 16 3 L 18 3 C 18.53 3 19.039 3.211 19.414 3.586 C 19.789 3.961 20 4.47 20 5 L 20 11 C 20 11.53 19.789 12.039 19.414 12.414 C 19.039 12.789 18.53 13 18 13 L 2 13 C 1.47 13 0.961 12.789 0.586 12.414 C 0.211 12.039 0 11.53 0 11 L 0 2 C 0 1.47 0.211 0.961 0.586 0.586 C 0.961 0.211 1.47 0 2 0 L 4 0" fill="transparent" height="13px" id="MpPLypjJQ" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(2 9)" width="20px"/><path d="M 12 20 L 12 2 C 12 1.47 11.789 0.961 11.414 0.586 C 11.039 0.211 10.53 0 10 0 L 2 0 C 1.47 0 0.961 0.211 0.586 0.586 C 0.211 0.961 0 1.47 0 2 L 0 20" fill="transparent" height="20px" id="WR5amAKxx" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(6 2)" width="12px"/></svg>)
Health Tech
$1.9m
$1.9m
![](data:image/svg+xml,<svg display="block" role="presentation" viewBox="0 0 24 24" xmlns="http://www.w3.org/2000/svg"><path d="M 1.861 6.615 C 1.715 5.958 1.737 5.274 1.926 4.628 C 2.115 3.981 2.464 3.393 2.94 2.917 C 3.417 2.441 4.006 2.094 4.653 1.906 C 5.3 1.719 5.984 1.698 6.641 1.845 C 7.003 1.28 7.501 0.814 8.09 0.491 C 8.679 0.169 9.34 0 10.011 0 C 10.682 0 11.343 0.169 11.932 0.491 C 12.521 0.814 13.019 1.28 13.381 1.845 C 14.039 1.697 14.724 1.718 15.372 1.906 C 16.02 2.094 16.61 2.442 17.087 2.919 C 17.564 3.396 17.912 3.986 18.1 4.634 C 18.288 5.282 18.309 5.967 18.161 6.625 C 18.727 6.987 19.192 7.485 19.515 8.074 C 19.837 8.663 20.006 9.324 20.006 9.995 C 20.006 10.667 19.837 11.327 19.515 11.916 C 19.192 12.505 18.727 13.004 18.161 13.365 C 18.308 14.022 18.287 14.706 18.1 15.353 C 17.913 16 17.565 16.589 17.089 17.066 C 16.614 17.542 16.025 17.891 15.379 18.08 C 14.732 18.269 14.048 18.291 13.391 18.145 C 13.03 18.713 12.531 19.181 11.941 19.505 C 11.351 19.828 10.689 19.998 10.016 19.998 C 9.343 19.998 8.681 19.828 8.091 19.505 C 7.501 19.181 7.002 18.713 6.641 18.145 C 5.984 18.293 5.3 18.272 4.653 18.084 C 4.006 17.897 3.417 17.549 2.94 17.074 C 2.464 16.598 2.115 16.009 1.926 15.363 C 1.737 14.716 1.715 14.033 1.861 13.375 C 1.291 13.014 0.821 12.515 0.496 11.924 C 0.171 11.334 0 10.67 0 9.995 C 0 9.321 0.171 8.657 0.496 8.066 C 0.821 7.475 1.291 6.976 1.861 6.615 Z" fill="transparent" height="19.99832px" id="nM75LIW6t" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(1.988 2.005)" width="20.00612px"/><path d="M 0 0 L 4 0" fill="transparent" height="1px" id="uEGqpjgUm" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(8 12)" width="4px"/><path d="M 0 9 L 0 2.5 C 0 1.837 0.263 1.201 0.732 0.732 C 1.201 0.263 1.837 0 2.5 0 C 3.163 0 3.799 0.263 4.268 0.732 C 4.737 1.201 5 1.837 5 2.5" fill="transparent" height="9px" id="GciUz1bqE" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(10 7)" width="5px"/><path d="M 0 0 L 7 0" fill="transparent" height="1px" id="g743DZ5ut" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(8 16)" width="7px"/></svg>)
Fin Tech
$2.1m
$2.1m
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6.796 C 2.174 7.387 3.074 7.709 4.002 7.709" fill="transparent" height="7.709000580341311px" id="z6Fpjtlw1" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(1.998 10.291)" width="4.00223316749461px"/><path d="M 0 0 C 0.02 0.484 0.158 0.956 0.4 1.375" fill="transparent" height="1.375px" id="PtCCx_WJp" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(6.002 5.125)" width="1px"/><path d="M 0.923 0.383 L 0 0" fill="transparent" height="1px" id="BT5ojFCiV" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(8.305 10.469)" width="1px"/><path d="M 0.923 0 L 0 0.383" fill="transparent" height="1px" id="T38Wraglj" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(8.305 13.148)" width="1px"/><path d="M 3 6 C 4.657 6 6 4.657 6 3 C 6 1.343 4.657 0 3 0 C 1.343 0 0 1.343 0 3 C 0 4.657 1.343 6 3 6 Z" fill="transparent" height="6px" id="ZtWXqe18A" stroke-dasharray="" stroke-linecap="round" stroke-linejoin="round" stroke-width="1.5" stroke="rgb(1, 35, 50)" transform="translate(9 9)" width="6px"/></svg>)
Deep Tech
$4.2m
$4.2m
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Climate Tech
$3.5m
$3.5m
0
$2M
$4M
$6M
Early-stage
Growth-stage
Late-stage
Median round sizes by industry between 2024-2025, excluding rounds less than $100k
View data
The typical size of an early-stage funding round in the UK is $1.9m with deep tech startups raising the biggest rounds
Overall
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
All
Early-stage
Growth-stage
Late-stage
Overall
$1.9m
$1.9m
AI
$2.4m
$2.4m
Health Tech
$1.9m
$1.9m
Fin Tech
$2.1m
$2.1m
Deep Tech
$4.2m
$4.2m
Climate Tech
$3.5m
$3.5m
0
$2M
$4M
$6M
Early-stage
Growth-stage
Late-stage
Median round sizes by industry between 2024-2025, excluding rounds less than $100k
View data
The typical size of an early-stage funding round in the UK is $1.9m with deep tech startups raising the biggest rounds
Overall
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
All
Early-stage
Growth-stage
Late-stage
Overall
$1.9m
$1.9m
AI
$2.4m
$2.4m
Health Tech
$1.9m
$1.9m
Fin Tech
$2.1m
$2.1m
Deep Tech
$4.2m
$4.2m
Climate Tech
$3.5m
$3.5m
0
$2M
$4M
$6M
Early-stage
Growth-stage
Late-stage
Median round sizes by industry between 2024-2025, excluding rounds less than $100k
View data
The typical size of an early-stage funding round in the UK is $1.9m with deep tech startups raising the biggest rounds
Overall
AI
Health Tech
Fin Tech
Deep Tech
Climate Tech
All
Early-stage
Growth-stage
Late-stage
Overall
$1.9m
$1.9m
AI
$2.4m
$2.4m
Health Tech
$1.9m
$1.9m
Fin Tech
$2.1m
$2.1m
Deep Tech
$4.2m
$4.2m
Climate Tech
$3.5m
$3.5m
0
$2M
$4M
$6M
Early-stage
Growth-stage
Late-stage
Median round sizes by industry between 2024-2025, excluding rounds less than $100k
View data
VC funding is a powerful tool to unlock growth. We need to allocate capital to the best VC managers in the UK who will in turn try and seek out the best companies.
Sam Endacott
firstminute capital
We need to concentrate investment on the very small number of incredibly ambitious startups that can have global impact.
Harry Briggs
Astanor Ventures
Enhancing the UK's scaleup ecosystem necessitates broadening LP participation, refining tax incentives, and effectively attracting and retaining talent.
Temi Marcella
Alcent Capital
VC funding is a powerful tool to unlock growth. We need to allocate capital to the best VC managers in the UK who will in turn try and seek out the best companies.
Sam Endacott
Quantinuum
Now is a great time to scale – there's a lot of energy behind the importance of us creating the next generation of AI-first organisations. But we need changes that enable institutions to invest more freely.
Harry Briggs
Astanor Ventures
Enhancing the UK's scaleup ecosystem necessitates broadening LP participation, refining tax incentives, and effectively attracting and retaining talent.
Temi Marcella
Alcent Capital
UK startups have raised more than $7b in VC investment so far in H1 2025, with early-stage funding fairly consistent over time.
Investment
VC Investment (in millions USD)
Amount Raised
Number of Rounds
All
Early-stage
Growth-stage
$1.4B
$1.05B
$700M
$350M
0
Q1-'23
Q2-'23
Q3-'23
Q4-'23
Q1-'24
Q2-'24
Q3-'24
Q4-'24
Q1-'25
Q2-'25
$0—1.0m (pre-seed)
$1.0—4.0m (seed)
$4.0—15.0m (series A)
Analysis only considers rounds worth more than $2m, Data recorded May 2025
UK startups have raised more than $7b in VC investment so far in H1 2025, with early-stage funding fairly consistent over time.
Investment
VC Investment (in millions USD)
Amount Raised
Number of Rounds
All
Early-stage
Growth-stage
$1.4B
$1.05B
$700M
$350M
0
Q1-'23
Q2-'23
Q3-'23
Q4-'23
Q1-'24
Q2-'24
Q3-'24
Q4-'24
Q1-'25
Q2-'25
$0—1.0m (pre-seed)
$1.0—4.0m (seed)
$4.0—15.0m (series A)
Analysis only considers rounds worth more than $2m, Data recorded May 2025
UK startups have raised more than $7b in VC investment so far in H1 2025, with early-stage funding fairly consistent over time.
Investment
VC Investment (in millions USD)
Amount Raised
Number of Rounds
All
Early-stage
Growth-stage
$1.4B
$1.05B
$700M
$350M
0
Q1-'23
Q2-'23
Q3-'23
Q4-'23
Q1-'24
Q2-'24
Q3-'24
Q4-'24
Q1-'25
Q2-'25
$0—1.0m (pre-seed)
$1.0—4.0m (seed)
$4.0—15.0m (series A)
Analysis only considers rounds worth more than $2m, Data recorded May 2025
Q2-2025
Investment
Q1 - 2023
Q2 - 2023
Q3 - 2023
Q4 - 2023
Q1 - 2024
Q2 - 2024
Q3 - 2024
Q4 - 2024
Q1 - 2025
Q2 - 2025
$250m+
$500m
$500m
$100—250m
$575m
$575m
$40.0—100m (series C)
$684m
$684m
$15.0—40.0m (series B)
$503m
$503m
$4.0—15.0m (series A)
$458m
$458m
$1.0—4.0m (seed)
$147m
$147m
$0—1.0m (pre-seed)
$26m
$26m
Total
$2.9b
$2.9b
UK startups have raised more than $7b in VC investment so far in H1 2025, with early-stage funding fairly consistent over time.
Investment
VC Investment (in millions USD)
Amount Raised
Number of Rounds
All
Early-stage
Growth-stage
$1.4B
$1.05B
$700M
$350M
0
Q1-'23
Q2-'23
Q3-'23
Q4-'23
Q1-'24
Q2-'24
Q3-'24
Q4-'24
Q1-'25
Q2-'25
$0—1.0m (pre-seed)
$1.0—4.0m (seed)
$4.0—15.0m (series A)
Analysis only considers rounds worth more than $2m, Data recorded May 2025
We asked 1,000+ UK tech leaders about the key barriers they face while scaling their businesses in the UK, and the potential policy solutions.
We asked 1,000+ UK tech leaders about the key barriers they face while scaling their businesses in the UK, and the potential policy solutions.
We asked 1,000+ UK tech leaders about the key barriers they face while scaling their businesses in the UK, and the potential policy solutions.
We asked 1,000+ UK tech leaders about the key barriers they face while scaling their businesses in the UK, and the potential policy solutions.
Investors say limited exit opportunities and availability of institutional capital are the biggest barriers they face when investing in UK companies.
75% of the investors we surveyed rate the UK as a good place to invest in early-stage startups, while 36% rate the UK positively for investing in growth-stage startups.
Limited exit opportunities in UK markets
67%
Availability of institutional capital (e.g. LPs, pension fund participation)
56%
Tax regime
34%
Difficulties in international expansion
33%
Regulatory environment
26%
Investors say limited exit opportunities and availability of institutional capital are the biggest barriers they face when investing in UK companies.
75% of the investors we surveyed rate the UK as a good place to invest in early-stage startups, while 36% rate the UK positively for investing in growth-stage startups.
Limited exit opportunities in UK markets
67%
Availability of institutional capital (e.g. LPs, pension fund participation)
56%
Tax regime
34%
Difficulties in international expansion
33%
Regulatory environment
26%
Investors say limited exit opportunities and availability of institutional capital are the biggest barriers they face when investing in UK companies.
75% of the investors we surveyed rate the UK as a good place to invest in early-stage startups, while 36% rate the UK positively for investing in growth-stage startups.
Limited exit opportunities in UK markets
67%
Availability of institutional capital (e.g. LPs, pension fund participation)
56%
Tax regime
34%
Difficulties in international expansion
33%
Regulatory environment
26%
Investors say limited exit opportunities and availability of institutional capital are the biggest barriers they face when investing in UK companies.
75% of the investors we surveyed rate the UK as a good place to invest in early-stage startups, while 36% rate the UK positively for investing in growth-stage startups.
Limited exit opportunities in UK markets
67%
Availability of institutional capital (e.g. LPs, pension fund participation)
56%
Tax regime
34%
Difficulties in international expansion
33%
Regulatory environment
26%
More investors need to take an Israeli approach: build in the UK, export to America, play to your strengths.
Hussein Kanji
Hoxton Ventures
We need to keep incentives like EIS/SEIS, Innovate UK grants, and R&D credits. We also need more ambition as they have in the US. We generally sell out too early.
Pam Garside
Cambridge Angels
The Government's initial steps towards making pension capital available for private company investing are hopefully indicative of an enduring shift which will help support innovation and create jobs.
Rytis Vitkauskas
Dig Ventures
More investors need to take an Israeli approach: build in the UK, export to America, play to your strengths.
Hussein Kanji
Hoxton Ventures
We need to keep incentives like EIS/SEIS, Innovate UK grants, and R&D credits. We also need more ambition as they have in the US. We generally sell out too early.
Pam Garside
Cambridge Angels
The Government's initial steps towards making pension capital available for private company investing are hopefully indicative of an enduring shift which will help support innovation and create jobs.
Rytis Vitkauskas
Dig Ventures
1 in 2 investors say enhanced tax incentives would make them more likely to increase their investment activity in the UK.
Improved exit environment
71%
Better availability of institutional capital and LPs
54%
Enhanced tax incentives
51%
Better quality of deal flow
28%
Better talent in startups
21%
More co-investment opportunities
14%
1 in 2 investors say enhanced tax incentives would make them more likely to increase their investment activity in the UK.
Improved exit environment
71%
Better availability of institutional capital and LPs
54%
Enhanced tax incentives
51%
Better quality of deal flow
28%
Better talent in startups
21%
More co-investment opportunities
14%
1 in 2 investors say enhanced tax incentives would make them more likely to increase their investment activity in the UK.
Improved exit environment
71%
Better availability of institutional capital and LPs
54%
Enhanced tax incentives
51%
Better quality of deal flow
28%
Better talent in startups
21%
More co-investment opportunities
14%
1 in 2 investors say enhanced tax incentives would make them more likely to increase their investment activity in the UK.
Improved exit environment
71%
Better availability of institutional capital and LPs
54%
Enhanced tax incentives
51%
Better quality of deal flow
28%
Better talent in startups
21%
More co-investment opportunities
14%
Government should put stronger incentives in place for institutions and pension funds to invest in startups. Otherwise, funding and exits will always be fueled by the US.
Ben Marrel
Breega
Britain has world class technology talent and an excellent venture capital ecosystem. The only missing piece of the jigsaw is public market investors who value innovation and growth.
Tommy Stadlen
Giant Ventures
It's critical to create a path for pension dollars to flow into VC – this is the most logical match of funds with a long-term view and long-term investments.
Rana Yared
Balderton
Government should put stronger incentives in place for institutions and pension funds to invest in startups. Otherwise, funding and exits will always be fueled by the US.
Ben Marrel
Breega
Britain has world class technology talent and an excellent venture capital ecosystem. The only missing piece of the jigsaw is public market investors who value innovation and growth.
Tommy Stadlen
Giant Ventures
We’re on the brink of an AI revolution and R&D tax relief is one of the most important incentives for starting and growing R&D functions and scaling the startup ecosystem.
Rana Yared
Balderton
Government should put stronger incentives in place for institutions and pension funds to invest in startups. Otherwise, funding and exits will always be fueled by the US.
Ben Marrel
Breega
Britain has world class technology talent and an excellent venture capital ecosystem. The only missing piece of the jigsaw is public market investors who value innovation and growth.
Tommy Stadlen
Giant Ventures
We’re on the brink of an AI revolution and R&D tax relief is one of the most important incentives for starting and growing R&D functions and scaling the startup ecosystem.
Rana Yared
Balderton
How can we unlock the UK's growth potential?
Download The Tech Nation Report 2025 in full.
Discover the insights most relevant to your needs – choose from the Full Report, Early-Stage Focus Edition, Growth-Stage Focus Edition, and our UK AI Sector Spotlight 2025.
