Funding for tech firms drops €20m

FUNDS raised by Irish technology firms have fallen by close to €20 million this year, while the number of companies looking for financing more than doubled.

A survey from the Irish Venture Capital Association found that total funds raised to the end of October by Irish-based technology companies dropped to €141.5m compared with €162.6m in the same period last year.

It also found that the number of companies raising funds has more than doubled from 31 to 73.