The Irish market in Q4’24
Q4 ended strongly with several deals raising over $40 million each – Nuitée, a Dublin-based travel tech infrastructure startup, raised $48 million in Series A funding. Dublin-based Nuritas, a company specialising in AI-powered peptide discovery, secured $42 million in Series C funding round.
VC investors continued to show interest in various sectors, from mature areas like health and biotech and fintech to emerging areas like AI applications. While interest in AI was relatively high, deals in Ireland primarily occurred at the earliest deal stages during Q4’24.
For example, Precision Sports Technology, who won the KPMG Global Tech Innovator (GTI) Ireland final in 2024, is a company focused on providing real-time feedback on exercise techniques—raised €700k in pre-seed funding and closed additional funding of €300k during the quarter.
Bounce Insights, a KPMG GTI finalist in 2024 and Dublin-based provider of an AI-powered market research platform, raised $4.5 million in funding.
Commenting on VC activity in Ireland, Anna Scally, EMA Region Head of Technology & Media, and Telecoms and Partner, KPMG in Ireland, said: “A strong end to 2024 and a positive start to 2025 underscore the resilience of Ireland’s innovation ecosystem amidst global funding pressures and show confidence is returning to the market. Health, biotech and fintech are still seeing interest. AI is really starting to attract interest—while the AI deal sizes are quite small here, it’s an area likely to grow significantly over the next year. With the first set of requirements in the EU AI Act going into effect on February 2, 2025, companies will have to factor the provisions of this Act into how they develop AI products and services to be rolled out in the European market.”
