Latest figures have revealed Scottish businesses remain attractive to investors as 23 firms shared funding worth over £85 million in the second quarter of 2024.
The latest KPMG Private Enterprise Venture Pulse report has showed “that companies from across the region – including Edinburgh, Stirling, Dundee and Glasgow – enjoyed a boost totalling £85.3 million in the past three months.”
This means that, in the first half of the year, “that 42 firms have shared out £184 million in the form of venture capital (VC) investment.”
Standout deals completed during the second three months of the year “include £13 million for Edinburgh-based Prothea Technologies, £11.1 million for iGii, based in Stirling, and £10 million for Dundee outfit Outrun TX.”
Elsewhere in the UK, the survey showed the first “signs of recovery in Q2 24, with the amount raised more than doubling the amount raised in Q1 24.”
After a quiet opening to the year, which saw just £3 billion in VC funding raised by UK businesses — the lowest amount “seen in 22 quarters, activity picked up dramatically in Q2 24 with £6.9 billion raised.”
This was also up year-on-year on the £4.7 billion “raised in Q2 23 as investor sentiment started to become more positive, according to the data supplied by Pitchbook.”
