Ireland ranked ninth in Europe for health tech investment last year, according to a report from Tech.eu.

Tech.eu’s annual report European Tech 2025 – The Big Picture, shows “strong funding momentum, with capital concentrated in large rounds across biotech, medtech, digital health, and AI-enabled healthcare. 

By country, the UK had the most active market, with major rounds across AI drug discovery, biotech, surgical robotics, digital care, and diagnostics, amounting to overall investment of €2.5 billion. Switzerland came in second, with just over €1 billion invested in 2025, followed by Finland (€881 million), Germany (770 million), the Netherlands (479 million), and Spain (396 million). Ireland ranked ninth, with health tech investment reaching more than 305 million, behind Sweden (381 million) and France (353 million), but ahead of Denmark, which saw investment of 198 million over the course of the year.

“The market was led by a mix of large growth rounds and strong Series A and Series B activity. Series A deals showed continued appetite for early clinical and platform development, while Series B and later rounds reflected investor support for companies moving toward commercialisation, clinical expansion, or international growth,” according to Tech.eu.

Top companies

The top performing company was Oura Health, the Finnish company behind the Oura Ring, a smart wearable that continuously tracks sleep, activity, heart rate, and other biometric data. In 2025, Oura Health raised more than $900 million in a funding round that valued the company at around $11 billion. The capital is intended to support the development of enhanced AI capabilities, drive product development, expand global reach, and introduce new health features.

London-based artificial intelligence company, Isomorphic Labs, is ranked in second place. A spin-out of DeepMind, Isomorphic is focused on transforming drug discovery through advanced machine learning. It builds AI models based on technologies such as AlphaFold to predict biological structures and design new medicines more quickly and efficiently, with the aim of accelerating breakthroughs in human health. In 2025, Isomorphic Labs raised $600 million in its first external funding round.

Also in the top 10 companies is the Swedish company Neko Health, which raised $260 million in a Series B funding round in 2025. Neko Health develops advanced scanning systems that combine sensors, imaging, and AI to collect and analyse large amounts of health data. Other digital health companies to feature in the top 10 are Ortivity, a Munich-based health tech company building an integrated network of outpatient orthopaedic practices and surgical centres across Germany; and Cera, the London- company providing digital-first home healthcare services.