THE PLEXAL STARTUP TRACKER

We want to bring the facts to the table about how COVID-19 is affecting startups. So we’ve partnered with Beauhurst to analyse, week by week, metrics that will tell us the story about investment figures, liquidations and even incorporations.

We’ve looked at 30,000 startups and fast-growth businesses (companies that have attracted equity or venture debt funding). Every week, we’ll publish new statistics here, along with our take on what it means.

From 23 March until 26 May 2020

49%

decrease in the value of investment compared to the same period in 2019

£1,159m

how much investment has been raised by startups in the UK since lockdown began

35%

decrease in deal numbers compared to the same period in 2019

228

the number of deals since 23 March 2020

67

the number of deals since 23 March involving startups that have never received investment before (worth a total of £53m)

4.5%

the percentage of funding raised by tech startups since the lockdown that’s gone to startups without previous investment

85%

how much lower funding for tech startups raising investment for the first time is compared to the same period in 2019

199

the number of administration, dissolution and liquidation filings since 23 March 2020

BIGGEST DEALS SINCE 23 MARCH 2020

 

The five biggest deals for British tech startups

  1. Cazoo £100m
  2. Onfido $100m
  3. Bought By Many £78.4m
  4. Privitar $80m
  5. Compass Pathways $80m

 

The five biggest deals for British tech startups that haven’t previously raised investment

  1. Audiens £6.4m
  2. Living Optics £3.3m
  3. Primer £3.2m
  4. Addionics £2.8m
  5. IRIS £2.4m

The tech sector has been leading investment activity since the lockdown began, with the highest levels of investment going to startups operating in fintech, artificial intelligence, digital security and blockchain.

OUR TAKE ON THE STATS

Since lockdown began we’ve noticed that overall investment and the volume of deals is lower than the same period last year. But what’s perhaps most concerning is that seed-stage startups are disproportionately worse off.

£1,159m has been raised in the UK since 23 March, with only 4.5% (£53m) going to startups that have never received funding before. The total number of deals is down by 35% compared to the same period last year.

This confirms what our startup members and VC network has been telling us: that investors are backing their existing portfolios and more established later-stage companies.

The results also show that the tech sector has driven the majority of post-lockdown investment, with fintech, AI, digital security and blockchain leading the way.

For more commentary and analysis, read this coverage by Sifted.

WANT TO HEAR MORE FROM THE PLEXAL TEAM? CONTACT US.

If you’ve got any media enquiries or would like to learn more about our data and insights from our startup community, contact us on connect@plexal.com

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