UK Innovation Update – H1 2026

An update of innovation and venture capital in the UK in H1 2026 - in collaboration with HSBC Innovation Banking.

Key findings

• UK startups raised $17B in H1 2026, the strongest opening half-year since 2022 and a 102% increase on H1 2025.
• The UK took 39% of all European VC investment in H1 2026, more than the next three countries combined.
• UK AI startups raised $12.6B in H1 2026, more than four times the $2.8B raised in H1 2025.
• Late-stage rounds made up 68% of UK VC in H1 2026 against 59% across Europe, the highest share of Europe's largest ecosystems.
• Four UK AI rounds passed $1B in H1 2026: Isomorphic Labs at $2.1B, Nscale at $2B, Wayve at $1.2B and Ineffable Intelligence at $1.1B.