  We compute the $\beta$-functions of marginal couplings in projectable
Ho\v{r}ava gravity in $2+1$ spacetime dimensions. We show that the
renormalization group flow has an asymptotically-free fixed point in the
ultraviolet (UV), establishing the theory as a UV-complete model with dynamical
gravitational degrees of freedom. Therefore, this theory may serve as a
toy-model to study fundamental aspects of quantum gravity. Our results
represent a step forward towards understanding the UV properties of realistic
versions of Ho\v{r}ava gravity.
