Monthly report · Scotland

The State of Scottish Tech, November 2025

£75.6m across 4 funding rounds on ayeoh's record in November 2025, with the investors, sectors and cities behind them and the stories readers read.

£75.6mraised in November 2025 across 4 rounds

£75.8min October 2025, across 3 rounds

£352.9min 2025 to the end of November 2025, across 44 rounds

Month by month

Disclosed funding each month, December 2024 to November 2025: Dec £20.8m, Jan £22.2m, Feb £44.6m, Mar £64.9m, Apr £12.1m, May £18.5m, Jun £26.7m, Jul £5.5m, Aug £3.6m, Sep £3.6m, Oct £75.8m, Nov £75.6m.

The biggest rounds

Trogenix raises £70m

6 Nov 2025 · Series A · Life sciences · Edinburgh · Edinburgh Innovations · Trogenix on ayeoh

Rhizocore Technologies raises £4.5m

20 Nov 2025 · Growth · Agritech · Edinburgh · Kibo Invest · Rhizocore Technologies on ayeoh

SeaWarm raises £550k

19 Nov 2025 · Seed · Energy · Edinburgh · Ukbaa

Freedom One Life raises £500k

10 Nov 2025 · Debt · Hardware · Glasgow · The Manufacturer · Freedom One Life on ayeoh

Sectors by money

Life sciences£70m · 1 round

Agritech£4.5m · 1 round

Energy£550k · 1 round

Hardware£500k · 1 round

Cities by money

Edinburgh£75.1m · 3 rounds

Glasgow£500k · 1 round

Investors named in the most rounds

Old College Capital

2 rounds · £5.1m across those rounds, whole rounds, not its own share

Scottish Enterprise

2 rounds · £5.1m across those rounds, whole rounds, not its own share

4BIO Capital

1 round · £70m across those rounds, whole rounds, not its own share

Calculus Capital

1 round · £70m across those rounds, whole rounds, not its own share

Cancer Research Horizons

1 round · £70m across those rounds, whole rounds, not its own share

Every round of November 2025: the month's funding report · the tracker, filtered to November 2025 · Scottish tech funding by city and sector, to November 2025 · 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 November 2025 (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, November 2025, https://ayeoh.io/reports/2025-11.

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.