Founders reports near-record $2.3bn venture capital funding for Cambridge
Cambridge tech had its second best year on record in 2024, with $2.3billion in VC funding deployed to science-led innovation and AI companies according to a Founders at the University of Cambridge report.
The new data from Founders shows that Cambridge’s ambitious founders and venture scientists have reversed the wider declines in funding across Europe.
Leading cities have seen funding fall: Stockholm (down 57 per cent to $2bn), London (-12 per cent to $11.3bn) and Berlin (-7.25 per cent to $2.7bn). However, overall funding in deep tech hubs including Cambridge is on the up, along with Oxford (+1 per cent to $706m), Zurich (+5.1 per cent to $990m) and Munich (+21 per cent to $2.9bn). This has driven the value of the Cambridge tech ecosystem to $222bn, up 16 per cent compared to last year, making it the second most valuable tech ecosystem in the country.
This comes as deep tech is surging across the city and the Cambridgeshire region:
- Early stage Cambridge start-ups are more likely to reach Series A funding (41 per cent) compared to the Bay Area (40 per cent) and London (33 per cent) – thanks to initiatives to improve start-up success and longevity
- Cambridge’s enterprise tech value has surged to $222bn, up 16 per cent.
This ambition is set to continue in 2025 with Cambridge tech companies already raising $420million in VC funding so far this year.
Gerard Grech, managing director of Founders at the University of Cambridge, said: “It’s inspiring to see Cambridge not just weathering global uncertainty but accelerating through it.
“While most regions saw venture funding fall, Cambridge doubled its VC investment – a clear sign of its tech and life sciences strength. But we can’t stop here. To get more venture scientists to breakout stage, we need to back them with the right support – from mentoring and business development to funding.
“We’re making sure they have what they need to build the deep tech companies that will shape our future.”