The most diverse tech startups of London in 2021
Despite Brexit, London is at the centre of Europe’s burgeoning tech scene, andthe tech companies from the capital backed Europe to reach record levels oftech venture capital funding in 2020.UK’s tech industry has expanded 10-fold in the last ten years, enabling thecreation of hundreds of fast-growing tech companies that are set to challengeSilicon Valley in the coming decade, according to a recent analysis byDealroom.co and the Digital Economy Council.Tech investment grew from £1.2bn in 2010, £4.1bn in 2015, to £11.3bn in 2020.This demonstrates the strength of the UK tech industry, with sustainedinvestment helping to develop world-leading tech companies that havetransformed how we live and work.But which are London’s most exciting and diverse startups and scaleups? Whichare the ones to watch in 2021? We at UKTN, in association with London &Partners – the business growth and destination agency for London, haveshortlisted more than 15 exciting startups we think you need to know about andkeep a tab on in the coming years.
Cazoo — fastest ever unicorn
Founder/s: Alex Chesterman Founded year: 2018 Funding: £471.5MLondon-based Cazoo, the used car marketplace is one of the leaders in theindustry. It is reportedly the fastest ever British unicorn that has attainedthe status by smashing all records. Going back by a few months, Cazoo raised£240M funding, which took its overall funding to over £450M.The latest backers of this used car platform include General Catalyst, D1Capital Partners and funds from Fidelity Management & Research Company andBlackrock. Also, new and existing investors including L Catterton, The SpruceHouse Partnership, Durable Capital Partners, Novator, Mubadala Capital and DMGVentures also took part in the funding round. With this funding, Cazoo scoreda valuation of £2 billion, this year.Cazoo makes buying a car quite simple as buying any other product online.Buyers can purchase a used car completely online and get it delivered to theirdoorsteps in just 72 hours. Also, there’s a 7-day money back guarantee forconsumers.At a time when COVID-19 pandemic crisis still prevails, people are advised toavoid the use of public transportation for their everyday commute. This iswhere Cazoo’s user car marketplace is disrupting the market segment. Thecompany completed its 10,000th customer delivery just 2 weeks ahead ofcelebrating its first anniversary since its debut.Alex Chesterman OBE, Founder & CEO of Cazoo said: “We have an amazing team whoare dedicated to reinventing the used car buying experience by providing thebest selection, value, quality, and convenience for UK car buyers. Despite thecurrent challenges many businesses are facing, Britain remains a market leaderfor talent and innovation and a great place to start a business.”Picture credits: Hopin
Octopus Energy — impact unicorn
Founder/s: Greg Jackson Founded year: 2015 Funding: £270MBritish utility supplier Octopus Energy achieved the unicorn status in May andis valued at over £1B. This was possible by closing $360M (nearly £270M)funding from Origin Energy, one of Australia’s leading energy companies, whichtook a 20% stake in Octopus Energy. Notably, this is the one of the biggestfunding rounds in the UK this year. Also, it has signed a deal to license thecompany’s Kraken technology platform. Kraken will bring in over £300M inlicencing fees over three years.In a recent development, the entech pioneer launched its service in Germany inan attempt to disrupt the market and deliver contract freedom and innovativetariff for users. The business named Octopus Energy Germany targets 1 millioncustomers by 2024 and intends to speed up expansion with an investment of €80M(nearly £71.8M).Greg Jackson, CEO and Founder, Octopus Energy said: “It was a no brainer toset up Octopus Energy in London, surrounded by like-minded tech innovators andgame-changing businesses. We’re using technology to make a big green dent inthe universe, and from our base in London, we’ve built a further 5 officesacross the UK and also have businesses in Australia, Germany and most recentlythe USA. We’re passionate about making the UK the global ‘Silicon Valley ofEnergy’, but we would not have been able to grow so quickly domestically orinternationally without the support of London’s highly innovative techecosystem.”
UK races against the US
Talking about unicorns, almost 48% of the global unicorns are in the US, whichis 235 companies including 50% of the global decacorns. Currently, there are26 decacorns with a valuation of over $10B (nearly £7.5B). Following the US,comes China with the second-highest number of unicorns with 119 (24.3%). Somenotably Chinese unicorns include fashion brand SHEIN and ByteDance, which isthe world’s only hectocorn valued at over $100B (nearly £75B).Next comes the UK, which ranks third in terms of the number of unicorns. Asper information from Tech Nation, the UK continues to lead Europe in terms offintech VC investment. In 2020, there has been $2.5B (nearly £1.9B) worthinvestment in the UK fintech companies so far.Top 20 London Tech Startups in 2022
Top 20 London Tech Startups in 2022
On startupsTechnology is moving the modern world forward. Many newly-founded techstartups are based on innovation, scalability, and an improved customerexperience. These companies focus on implementing advanced technologies tocreate new products or services that address real-life issues.What highlights the potential of the tech sector is the surge in the number ofunicorn companies—startups valued at one billion dollars or more. The UK ranksas the third country in the world with the highest number of such startups.Currently, there are 25 unicorn companies in the UK, and most of them arelocated in its capital—London.So, what are the best London tech startups? This list was developed byRelevant, specialists with senior tech talent and product developmentexpertise, who have successfully built world-class software for more than 200projects.Let’s take a closer look!
Artificial intelligence startups in London
Artificial intelligence is continuously growing in popularity. It is an areawhere startups in the UK show propelling growth. These are the most dominantAI startups in London:Cleo is a breakthrough in budgeting and finance management. This artificialintelligence startup created a smart assistant to help users manage theirfinances.Not only does Cleo provide personalized budget and spending breakdowns for itsusers, but it also offers budgeting tips and help with bills. What users trulylove about Cleo is the assistant’s personality—sometimes it is funny, andsometimes it will roast you for spending too much money on things you don’tneed.Most importantly, Cleo employs world-class security practices so people cantrack their spending without worrying about data breaches.Signal AI is an artificial intelligence startup dedicated to transforming theworld’s information into accessible, actionable business knowledge.With so much news published daily, it has become almost impossible to identifythe most worthy pieces that provide valuable information and help us makeinformed decisions. Signal AI uses artificial intelligence to better curatethe news for different business sectors.The AI functions by extracting knowledge from more than five million newsarticles and other documents and making connections users cannot. Havingaccess to such valuable information can significantly boost our decision-making.Diffblue developed a unique product that uses an AI engine to automatetraditional coding tasks. In other words, this AI startup developed softwarethat can write unit tests for Java developers automatically.Diffblue recognized the greatest bottleneck for DevOps—software testing. Thislengthy process often leads to regressions and lost developer productivity,slowing the team’s development velocity and reducing product quality. Diffblueensures automation at all phases of the CI and DevOps process and increasesthe automation of the CI pipeline.Concured is one of the youngest AI startups in London. However, itsachievements in intelligence-powered content generation are astonishing. Thecompany developed a solution that applies advanced artificial intelligencetechnology to content marketing, creating a platform that leverages AIopportunities to validate content ideas.Concured’s AI analyzes multiple content sources, generating insights oncompetitors’ strategies, relevant topics, and factors affecting contentperformance. This information allows brands to create data-driven content thatis consistent and perfectly targeted.
Cybersecurity startups in London
The UK is gradually establishing its position as an incubator forcybersecurity innovations, with more tech companies appearing almost daily.Keep reading to discover the most competent cybersecurity startups in London!Email is the most common form of communication for employees and companies.More often than not, email users share sensitive information. For that reason,it is necessary to protect that data.Tessian, one of the most advanced cybersecurity startups in London andworldwide, is dedicated to protecting employees’ emails. The company launcheda unique product called Human Layer Security Intelligence in 2020. Tessianprovides unparalleled visibility into human risk and automatically preventssecurity threats while continuously driving employees toward safe emailbehavior.Panaseer uses big data technology to develop custom enterprise securitysolutions. The founders of this cybersecurity startup created an innovativeplatform that can unify IT and security data, establishing total visibilityand automating reporting processes.The Panaseer platform enables a thorough assessment of risks, threats, andvulnerabilities by applying advanced analytics to security and business data.The organization can develop more effective protection methods by applyinglarge-scale analytics with the assistance of security technologies. Thecompany’s position in the market for high-tech cybersecurity solutions appearsto be rather steady.Many companies are choosing online commerce as their operating method, butwith so many threats online, it is essential to keep your business safe andprotect your customers. Ravelin’s mission is to provide companies withreliable fraud detection services and make online commerce a safe place to dobusiness.Ravelin developed a cybersecurity solution that allows companies to targetspecific fraud issues their business is facing. By combining machine learning,a graph database, a rules engine, and a consortium database, Ravelintransforms online commerce into one of the most reliable ways to do business.
Fintech startups in London
The worldwide fintech sector was valued at $127.66 billion in 2018, with a 25percent annual growth rate expected through 2022, when it will be worth$309.98 billion. The perspectives of the UK’s fintech startups are similar.The industry is booming and keeps attracting stable investment. Keep readingto find out which fintech startups in London are dominating the industry.Tide is a fintech and banking company founded to give time to business owners,so they can finally get back to doing what they love the most. Dedicated tosupporting small and scaling businesses, Tide provides various businessaccount plans for its users.Tide’s current account is packed with features designed to save time andmoney. From auto-categorization to syncing with accountancy software, Tide isestablishing itself as one of the leading fintech startups in London.Revolut is the UK’s fastest-growing financial super app, designed as a digitalbanking alternative for instant payment notifications. Revolut launched in2015, offering free international money transfers and global fee-freespending.This banking platform has dozens of financial products, allowing users allover the globe to complete transactions. From transferring money at excellentexchange rates to giving users access to smart budgeting tools, Revolut istransforming the fintech sector.Akoni created a cash management system for small and medium-sized enterprises.The solutions provided are based on machine learning and data science, andthey provide the best currency rates by continuously monitoring and evaluatingthe market.
200+ companies from 25 countries outsourced software development to
RelevantWe provide companies with senior tech talent and product development expertiseto build world-class software. Let’s talk about how we can help you.Contact usUsers love Akoni because the system gives them a single view of all their cashaccounts and Akoni savings. In addition, the platform allows users to track,analyze, compare, and effectively manage all their cash deposits from onelocation.
Robotics startups in London
The robotics space in the UK has progressed over the years, and some excitingstartups entered the area, remodeling the traditional processes. These are themost influential robotics startups in London:Oxbotica is a startup that develops autonomous vehicle software. It addressesthe hot issue of developing technology that will enable machines to navigate,understand, and act in their specific environments.The company also enables machines to explore, understand, and act robustly intheir specialized settings. Company engineers are dedicated to creatingautonomous vehicle control systems, self-driving vehicles, and fleetmanagement solutions using computer vision and machine learning approaches.Founded in 2016 by a young farmer, Sam Watson Jones, and entrepreneur BenScott-Robinson, the Small Robot Company was established to solve decreasingagricultural yields.This UK-based firm provides an agri-tech robotic service via its Farming-as-a-Service (FaaS) model. The company offers robotic hardware services thatdigitize farming activities, such as crop and soil monitoring robots,precision drilling, and planting robots.Karakuri is a robotics startup in London with a focus on revolutionizing foodprep and the restaurant kitchen. The company developed the world’s first fullycustomizable food preparation system that combines robotics, automation, andmachine learning.The main idea behind Karakuri is to reduce food waste, improve food choice andquality, boost staff well-being, and enable healthier eating. Karakuri isgradually paving the way to a world where freshly-made, healthy food is asconvenient as fast food.The last on our list of robotics startups in London, Automata, was founded in2015 to make robotics affordable and usable. The company employs the Robotics-as-a-Service (RaaS) business model by integrating robotics into everydayprocesses and workflows.The main idea behind Automata is to create automation solutions that removerepetitive tasks from humans so that they can focus on more important ones.They strive to do it at a price most companies can afford.
Virtual reality startups in London
The worldwide interest in VR is growing stronger with many new companiesemerging, and the UK is no exception. Check out the virtual reality startupsin London that are set to dominate the industry.Can you imagine combining virtual reality with therapy? That is what Oxford VRdoes. The company builds psychological treatments with the help of virtualreality technology to help resolve common therapy issues.Since its launch in 2016, the company has made significant progress usingvirtual reality and a cognitive-behavioral therapy method. Patients can learnnew ways of thinking and behaving with the help of automated treatmentsprovided by a virtual coach who is tailored to each ailment.Even though people usually associate VR with gaming, this technology is makingsignificant contributions to the healthcare industry. FundamentalVR developeda leading medical education platform for surgery.The Fundamental Surgery platform delivers VR haptic “flight simulators,”creating a safe, measurable, and repeatable space for surgeons to refine theirskills.Improbable provides a comprehensive platform for developing virtual andaugmented reality apps.The company developed SpatialOS, which allows simulators and games to createcomplex, feature-rich virtual landscapes. The platform uses cloud computing torun its services and makes resource provisioning and scaling cost-effectiveand straightforward.
Blockchain startups in London
Blockchain technology in the UK is growing and generates business value. Theseare the most prominent UK blockchain startups:Blockchain.com has created an online crypto wallet that allows users toacquire tokens instantly and on the go using a debit or credit card. Thisplatform also provides a variety of cryptocurrency search tools, statistics,and charts.Blockchain.com managed to establish itself as one of the most popularblockchain startups in London, which allows users to buy securely and storeand trade Bitcoin, Ethereum, and other top cryptocurrencies.Appii is a London-based firm that uses blockchain technology to performemployee background checks and CV verification.Job searchers can create profiles with verified credentials, highlightingqualifications and other personal information. These credentials are validatedin a completely secure manner with businesses and educational institutions.Everledger is a company that develops technology to improve supply chaintransparency around the world.The business developed a solution that provides an immutable ledger fordiamond identification and transaction verification. As Everledger explains,the company’s primary goal is to bring more clarity and confidence to marketswhere transparency is a strategic requirement.