The money will be shared between 34 local projects that seek to prevent and protect young people from knife violence. It follows a spate of stabbings in capital, which have claimed the lives of at least 36 people since the start of this year.
Khan said the money is being targeted at local projects after a consultation with young people found they prefer help from people they know and trust in their communities. Projects to be funded include boxing clubs, mentoring projects and efforts to get young people into work.
"As mayor, I have made it a priority not only to be tough on knife crime in London, but tough on the causes of knife crime too," said Khan. "The tragic deaths in recent days and months have highlighted once again how urgently this must be tackled."
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