Monthly report · Scotland

The State of Scottish Tech, May 2024

£9.4m across 4 funding rounds on ayeoh's record in May 2024, with the investors, sectors and cities behind them and the stories readers read.

£9.4mraised in May 2024 across 4 rounds, 1 undisclosed

£53.7min April 2024, across 4 rounds

£91.5min 2024 to the end of May 2024, across 16 rounds

Month by month

Disclosed funding each month, January 2024 to May 2024: Jan £9m, Feb £10m, Mar £9.4m, Apr £53.7m, May £9.4m.

The biggest rounds

Malted AI raises £6m

16 May 2024 · Seed · AI · Edinburgh · DIGIT · Malted AI on ayeoh

Nami Surgical raises $4M (£3.16m)

10 May 2024 · Seed · Life sciences · Glasgow · Tech Funding News · Nami Surgical on ayeoh

Heero Technologies raises £230k

23 May 2024 · Debt · Energy · Dundee · Scottish Business News · Heero Technologies on ayeoh

Sectors by money

AI£6m · 1 round

Life sciences£3.2m · 1 round

Energy£230k · 1 round

SoftwareUndisclosed · 1 round

Cities by money

Edinburgh£6m · 2 rounds

Glasgow£3.2m · 1 round

Dundee£230k · 1 round

Investors named in the most rounds

Scottish Enterprise

2 rounds · £3.4m across those rounds, whole rounds, not its own share

Creator Fund

1 round · £6m across those rounds, whole rounds, not its own share

Hoxton Ventures

1 round · £6m across those rounds, whole rounds, not its own share

British Business Bank

1 round · £3.2m across those rounds, whole rounds, not its own share

Eos Advisory

1 round · £3.2m across those rounds, whole rounds, not its own share

Every round of May 2024: the month's funding report · the tracker, filtered to May 2024 · Scottish tech funding by city and sector, to May 2024 · For journalists

Today's Scottish tech news on the front page

How this is made. Every figure is computed from ayeoh's record: the funding rounds and grants announced in May 2024 (UK time), summed on their stored pounds, a round with no disclosed amount counted and not added; investors by the rounds they are named in, the money the whole rounds'; hiring, closures and acquisitions as the record holds them, each linked to its source; and the stories by clicks through from ayeoh to the outlet, a count with nothing about the reader.

Cite as. ayeoh, The State of Scottish Tech, May 2024, https://ayeoh.io/reports/2024-05.

Licence. The funding data and figures are licensed under Creative Commons Attribution 4.0 International: reuse them freely, commercially too, crediting "ayeoh.io" with a link to https://ayeoh.io. CC BY 4.0.