London based AI start-ups raised a record $3.5 bn in venture capital funding last year London based AI start-ups raised a record $3.5 billion (£2.9 billion) in venture capital investment last year keeping the capital at the top of the European league table.
latest figures from analysts Dealroom and the Mayor’s growth agency London & Partners shows AI investment shot up more than 50% from the $2.3 billion of 2023 and is 21% higher than the previous record of $2.9 billion set in 2022.
London has produced 120 unicorns to date, with eight companies becoming unicorns in 2024, including EyeBio, IntraBio, Flo Health, Minute Media, and Preqin, as well as AI companies Wayve, Lighthouse, and ElevenLabs.
The data also shows that London leads in Europe for AI VC investment, followed by Paris ($2.4 billion) and Munich ($763 million).
These include rounds for: Wayve, Monzo Bank, Highview Power, Lighthouse, WorldRemit, Deep Green, Flo Health, Nscale, Flagstone, Char.gy, Myricx Bio, Skyports, Purespring Therapeutics, Abound, MAR mining, Amber Therapeutics, Vicebio, Kaluza, and Tessl.
