The Biggest Scottish Tech Deals of 2024

Despite strong economic headwinds, a hostile investment environment, geopolitical tensions and….. 2024 has – against all odds – been a  strong year for Scotland’s tech, life sciences, and business sectors, marked by transformative acquisitions, groundbreaking investments, and innovation-driven growth.

From major takeovers to funding rounds fueling advancements in AI, biotechnology, and renewable energy, Scotland has stated its claim as a global player for cutting-edge industries. This retrospective highlights the most significant milestones of the year, showcasing some of the biggest deals and aquisitions of the year.

Here’s to many more in 2025!

Scottish Tech Deals 2024: Major Deals and Acquisitions

Coretrax Acquired for £166M (February)
Aberdeenshire-based Coretrax, a leader in drilling tools and wellbore solutions, was purchased by Expro for £166 million.

CB Technology Acquired by Elite Electronic Systems (September)
Livingston-based CB Technology joined forces with Elite Electronic Systems, creating a UK electronics manufacturing giant with £50 million in revenue.

Quorum Cyber Acquired Difenda (September)
Edinburgh-based Quorum Cyber enhanced its global standing in Microsoft Security services by acquiring Canadian firm Difenda.

iomart Acquired Atech Support for £57M (October)
iomart expanded its Microsoft Solutions portfolio for mid-sized UK enterprises with a £57 million acquisition of Atech Support.

Scottish Tech Deals 2024: Significant Investments in Innovation

Build A Rocket Boy Raised $110M (January)
Edinburgh gaming studio Build A Rocket Boy secured $110 million to launch its open-world platform EVERYWHERE and AAA title MindsEye.

Sulmara Secured £15M from BGF (November)
Sulmara, a Glasgow-based offshore wind inspection firm, received £15 million from BGF to scale autonomous tech innovations.

ZeroAvia Received £20M from SNIB (September)
ZeroAvia secured £20 million from the Scottish National Investment Bank to support hydrogen-electric aviation engine production.

Software Sustainability Institute Secured £10.2M (August)
The University of Edinburgh-led Software Sustainability Institute received £10.2 million from UKRI to promote software equity and sustainability.

Scottish Tech Deals 2024: Funding for Tech and Life Sciences

EnteroBiotix Raised £27M (April)
Glasgow biotech firm EnteroBiotix raised £27 million to advance its microbiome therapeutics pipeline with support from key investors like Thairm Bio.

Wobble Genomics Secured £8.5M (March)
Wobble Genomics in Edinburgh secured £8.5 million to bring its cutting-edge RNA sequencing tech to market.

Synaptec Secured £6.5M (February)
Synaptec raised £6.5 million to scale manufacturing for its live data power network monitoring solutions.

SOLASTA Bio Raised £10M Series A (September)
SOLASTA Bio secured £10 million to bring its eco-friendly bioinsecticides to global agricultural markets.

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MiAlgae Raised £14M (September)
Biotech innovator MiAlgae raised £14 million to expand its omega-3 production using whisky by-products as a sustainable feed alternative.

Scottish Tech Deals 2024: Advances in AI, Robotics, and Fintech

Leap Automation Raised £7.9M (September)
Aberdeen’s Leap Automation raised £7.9 million, backed by SNIB, to expand its AI-powered robotic systems and create skilled jobs.

Aveni Secured £11M (July)
Edinburgh fintech Aveni raised £11 million to develop AI solutions for the financial services sector.

Malted AI Raised £6M (May)
Malted AI in Edinburgh raised £6 million to democratize AI for small businesses through tailored, accessible models.

Scottish Tech Deals 2024: Consumer Tech and Space Innovation

Shot Scope Raised $8.5M (July)
Scottish golf tech company Shot Scope raised $8.5 million .

Orbex Secured £16.7M (April)
Forres-based Orbex raised £16.7 million to accelerate development of its environmentally friendly Prime rocket, contributing to the UK’s space sector growth.

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