TLDR:
Irish VC investment in Q1’24 was down 80% from Q1’23, but there was positive interest in tech companies, with Softbank acquiring a majority stake in Cubic Telecom. Global VC investment decreased to the lowest level in nearly five years, with Europe being the only region to see an increase. Key highlights from Ireland included a diverse range of start-ups receiving funding, with Galway-based medtech firm Ceroflo raising $7 million as the largest deal. Moving into Q2’24, Irish VC investors are expected to remain cautious.
Article Summary:
VC investment in Ireland experienced a slow start in Q1’24, with $34.19 million across 17 deals, down 80% from the previous year. Despite this, there was positive interest in tech companies, evidenced by Softbank’s acquisition of Cubic Telecom. Global VC investment dropped to the lowest level in nearly five years, with Europe being the only region to see an increase. In Ireland, a variety of start-ups attracted funding, with medtech firm Ceroflo raising the largest amount at $7 million. Moving into Q2’24, Irish VC investors are expected to remain cautious as they navigate macroeconomic challenges and geopolitical uncertainties.
