Record-Breaking Investments in 2024 In 2024, Irish technology SMEs secured a historic €1.48 billion in venture capital funding, marking a 9% increase from the previous year. This growth was notably driven by substantial investments in the fourth quarter, which alone accounted for €535 million—a 162% rise compared to the same period in 2023.
Dublin played a pivotal role in this success, with 183 companies raising €645 million, representing approximately 60% of the startups fundraising and two-thirds of the total investment value in 2025. Momentum Continues The positive trend persisted into the first quarter of 2025, with 79 Irish companies collectively raising €634 million—the highest Q1 performance on record. Significant contributions came from companies like LetsGetChecked (€165 million), Tines (€113 million), and Xocean (€115 million), which together accounted for over half of the total funds raised .(TechCentral.ie)
International investors played a crucial role, contributing to 82% of the total funding in Q1 2025, up from 71% in the same quarter the previous year .(TechCentral.ie)
Sectoral Highlights and Challenge
Healthtech emerged as the leading sector in 2024, attracting €532 million in funding. The energy sector followed with €328 million, while enterprise solutions and fintech sectors secured €190 million and €138 million, respectively .(TechCentral.ie)
Despite these successes, early-stage startups faced challenges, with a decline in funding rounds within the €3–10 million range. This gap highlights the need for increased support for companies seeking Series A+ funding .(TechCentral.ie)
Dublin’s Tech Ecosystem: A Magnet for Innovation Dublin’s appeal to tech companies is bolstered by its robust infrastructure, favorable tax environment, and a vibrant ecosystem supported by initiatives like Dogpatch Labs and The Digital Hub . The city’s “Silicon Docks” area hosts European headquarters for tech giants such as Google, Facebook, and LinkedIn, further cementing its status as a technology powerhouse .(Wikipedia)
The city’s commitment to innovation is evident in its support for research and development, with a record €1.9 billion invested across 64 projects in 2024 .(idaireland.com) Outlook Dublin’s tech scene shows no signs of slowing down. With continued investment, a supportive ecosystem, and a focus on innovation, the city is well-positioned to maintain its momentum and solidify its reputation as a leading global tech hub.
