State of Scottish tech · to October 2024
Scottish tech funding by city and sector, to October 2024
Scottish tech companies have announced 41 funding rounds on ayeoh's record since January 2024, £188.5m in all, of which £4.4m across 2 rounds is confirmed by the companies or funders themselves. The newest round was announced 7 Oct 2024.
Download the league tables as CSV · every round, filterable · For journalists
6 other places with fewer than three rounds each add £35.8m across 8 rounds. 2 rounds have no place stored and sit in no city.
One line per city, ready to quote
EdinburghNo. 1 of 2
£80.9m20 rounds · £3.4m confirmed first-hand across 1 round
Edinburgh tech companies drew £80.9m across 20 rounds (1 undisclosed) from January 2024 to October 2024, the most of any Scottish place. The largest was Aveni's £11m Series A round in July 2024. Life sciences was its busiest sector, with 7 rounds.
Largest round: Aveni · Every Edinburgh round
Edinburgh tech companies drew £80.9m across 20 rounds (1 undisclosed) from January 2024 to October 2024, the most of any Scottish place. The largest was Aveni's £11m Series A round in July 2024. Life sciences was its busiest sector, with 7 rounds. Source: ayeoh.io, Scottish tech funding by city and sector, https://ayeoh.io/reports/scottish-tech-funding/2024-10#edinburgh, data to 7 Oct 2024.
GlasgowNo. 2 of 2
£55.1m11 rounds · £1m confirmed first-hand across 1 round
Glasgow tech companies drew £55.1m across 11 rounds from January 2024 to October 2024, 29% of the Scottish total. The largest was EnteroBiotix's £27m Growth round in April 2024. Life sciences was its busiest sector, with 5 rounds.
Largest round: EnteroBiotix · Every Glasgow round
Glasgow tech companies drew £55.1m across 11 rounds from January 2024 to October 2024, 29% of the Scottish total. The largest was EnteroBiotix's £27m Growth round in April 2024. Life sciences was its busiest sector, with 5 rounds. Source: ayeoh.io, Scottish tech funding by city and sector, https://ayeoh.io/reports/scottish-tech-funding/2024-10#glasgow, data to 7 Oct 2024.
By year
2024£188.5m · 41 rounds
One line per sector
Life sciences drew £92.6m across 14 rounds, 49% of the Scottish total; Glasgow led with £50.7m.
AI drew £29.8m across 5 rounds, 16% of the Scottish total; Edinburgh led with £21.9m.
Space drew £20.4m across 4 rounds, 11% of the Scottish total; Edinburgh led with £3.7m.
Energy drew £11.2m across 3 rounds, 6% of the Scottish total; Edinburgh led with £10m.
Software drew £6.2m across 6 rounds, 3% of the Scottish total; Aberdeen led with £3.1m.
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How it is counted. Every figure is a sum of the funding rounds ayeoh has recorded from published reports and public registers, dated by announcement. “Reported” adds every listed round's stored pounds; “confirmed” adds only rounds with a Scottish place stored and a first-hand source (the company's, investor's or funder's own page), the rule the tracker and the front page follow. A round with no disclosed amount is counted and not added. A city is the region a round counts under; a place with fewer than three rounds is summed under “other places”. The sentences are templates filled from these rows; no model wrote them. The record holds the rounds that were reported, so a city's total can rise when an earlier round is found.
