Funding for women-founded startups drops sharply [Video]

Although a record number of women-founded startups successfully fundraised in 2023, the total value of funding dropped sharply, according to new research from TechIreland.

A total of 77 women-led startups received funding in 2023, up from 72 in 2022, but the value of funding dropped significantly from a record €234m in 2022 to just €93m in 2023.

This figure was also the lowest in four years, as the global slowdown in funding reared its head, a trend that was represented in the overall funding for Irish startups.

Although the average deal sizes for early stage rounds, including pre-seed, seed and Series A, actually increased, large funding deals over €10m were few and far between.

In 2022, 66% of the total funding volume was achieved through €10m+ deals, but there was just two large funding deals for women-led startups in 2023: that of Tipperary-based Shorla Oncology raising €31m and Dublin’s ProVerum Medical raising €15m.

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