UK Sport says it will invest £352m in British sports for the 2024 Olympic and Paralympic Games in Paris.
The funding will be split across 43 Olympic and Paralympic sports and represents an increase on the £345m allocated for the Tokyo Games.
New additions climbing, skateboarding and surfing have all been funded.
However, some traditional sports like athletics, gymnastics, rowing and swimming have all had budgets cut by up to 10%.
Sailing, canoeing, equestrian and modern pentathlon have also seen reductions while Badminton has seen a significant increase and GB wheelchair rugby has had its funding restored. The sport received £3m in total in the run up to Rio 2016 but had all funding removed after failing to win a medal at the Games.
They have since claimed two European titles and climbed to number four in the world.
Britain won 67 medals at Rio 2016 and claimed 64 gold medals in the Paralympics.
British Rowing chief executive Andy Parkinson said he was not surprised to see a cut of around £2.4m for the sport in “difficult economic times”.
However, his counterpart at Pentathlon GB, Sara Heath, said she was “disappointed & perplexed” by a reduction of just over 20%.
In a statement, Pentathlon GB said it intended to lodge an appeal, with Heath stressing a “lack of parity… across the sports receiving this crucial funding”.
On the decision to cut funding for a number of sports, UK Sport chief executive Sally Munday said: “These are pretty tough times in terms of the financial envelope that is available to us and we have looked across the piece.
“We wanted to reach more sports than we’ve ever been able to before and as a result we have had to make some pretty tough decisions.
“I believe that the sports that have been consistently successful will continue to be successful with the funding that they have received.”
An additional new fund worth £3m will also be open to applications from other sports such as breaking, which is set to feature at the Olympics in Paris for the first time.