Figures compiled by the Irish Venture Capital Association (IVCA) show that 2016 was a bumper year for investment in Irish technology companies.
The newly published IVCA Venture Pulse survey shows investment of €888 million in Irish technology companies, a massive 70% increase from 2015 figures.
The IVCA noted key areas of growth being the life sciences sector (which accounted for 52% of all funds raised) and the fintech sector.
It is a positive sign for the Irish economy, and an endorsement of the quality of Irish entrepreneurs, that interest from investors abroad has increased significantly, with €548 million of funds invested in 2016 coming from international investors through Irish venture capital firms.
Start-ups also benefitted from increased investment in 2016, with early stage companies raising seed capital of €70.2 million. This represented an increase from the €43.7 million raised in 2015.
The year on year increase in investment is a positive sign for the Irish tech sector, and the upwards trend will hopefully continue in 2017.
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