Irish companies raise record $401 million in VC funding

Among those securing investment in the first quarter were tech unicorns Wayflyer and Flipdish

Conor and James McCarthy, co-founders, Flipdish: the food ordering platform hit a $1.25 billion valuation after raising $100 million from backers. Picture: Fergal Phillips

Irish companies raised $401 million (€382 million) in venture capital investment across 25 deals in the January to March period, the highest value ever recorded in a first quarter.

New figures show a strong start to 2022 after a record year in 2021, when 287 VC deals with a combined value of $1.87 billion took place.

The figure, compiled by KPMG using data provided by PitchBook, the research platform, shows activity levels soared locally even ...