Start-ups led by women set investment record in 2022

However, 2022 still followed trends seen in previous years where a small number of companies accounted for the bulk of the total investment

Female founded start-ups accounted for 72 of the 305 companies that received funding in 2022.

Women-led start-ups in Ireland raised €234m last year in reaching a record high for the third consecutive year, a new report shows.

Of the 305 start-ups that raised funding last year, a record 72 were founded by women. 

A report by TechIreland has revealed that despite a cooling of investment in start-ups around the world, female start-up founders in Ireland were able to break the previous investment record of €230m from 2021.

However, while 2022 did break a number of records, it still followed trends seen in previous years where a small number of companies accounted for the bulk of the total investment.

Of the €234m raised, two-thirds went to just three companies with TransferMate Global Payments receiving €66m in investment, Carrick Therapeutics receiving €58m, and Proverum receiving €30m. Another large outlier was &Open which raised €26m.

The other 68 companies raised a combined €58 million. Dublin accounted for 40% of the funding raised in 2022 with Kilkenny in second place due in large part to the investment in TransferMate.

Chief executive of TechIreland John O’Dea said women-led startups are “pushing the bar higher each year" and "we should continue to build on these strengths".