The tech startup ecosystem in London raked in an incredible £26bn in venture capital funding in 2021, marking another remarkable year and promising future for tech entrepreneurs. Despite a challenging environment, thanks to Brexit and COVID-19, London continues to be the leading tech hub in the UK due to its adaptability, attractive tax incentives and lucrative government investments.
So, which tech startups are worth watching in 2022? Below, we highlight fast-rising, innovative, high-potential tech enterprises in London to look out for this year.
Revolut, regarded as the most valuable fintech in the UK, is a powerful fintech solution disrupting the traditional and digital banking space. The Revolut platform provides end-to-end financial services ranging from open banking services, insurance, cryptocurrency trading, payday, bill organisers, secure online shopping, and budgeting tools.
Additionally, users get complete visibility over their finances and transactions due to the app's AI-powered data analytics. Revolut also lets you centralise all your bank accounts into one portal, allowing you to track your financial activities from a secure place.
Launched in 2015, the Revolut platform now boasts 15m+ personal customers, 500k business clients worldwide and 30+ in-app currencies.
Revolut’s innovation has proven attractive to leading investors, having secured a total of £1.27b in equity.
As COVID-19 slowly halted in-person interactions, Hopin stepped in to provide immersive experiences through their software. Their all-in-one solution hosts virtual events, a production studio, on-site assistance and event marketing for in-person, virtual and hybrid events. In addition, their software is tailored to suit any event type – webinars, expos, fairs and trade shows, conferences, networking events, workshops, and summits.
Attendees get immersive experiences such as one-on-one networking, polls, interactive expos, breakout sessions, while event organisers get complete control and plenty of customisation features.
Event organisers can host 50,000+ audiences seamlessly while supporting planning and post-event activities. You also get data analytics to analyse your attendance, as well as recordings and chat transcripts to enrich your future audience experiences.
The company was established in 2019 and has raised £740m from eight funding rounds.
OneWeb is establishing a space-based worldwide network that will provide high-speed, low-latency internet access.
OneWeb will provide global connectivity by creating a communication network with a constellation of Low Earth Orbit (LEO) satellites. The company's worldwide service will provide ground-breaking solutions for broadband, government, and cellular backhaul solutions. In addition, its high-speed, low-latency network will offer solutions to firms that require global connectivity, such as aviation, maritime, automobile, trains, and other industries.
In February 2019, OneWeb began deploying its first ever constellation of LEO satellites. By March 2020, the company had deployed 74 of the planned 648 satellites in the initial constellation.
Greg Wyler founded the London-based business in 2012. The company has so far raised $4.7 billion across eight funding rounds.
Snyk's mission is to resolve security vulnerabilities as you code. Their solution integrates your development environment and automation pipelines to identify and resolve security issues in applications before full deployment. Essentially, Snyk simplifies security and development so that teams can reduce time spent on firefighting vulnerabilities and focus on adding value to the business.
The AI-powered platform features the most advanced open source vulnerability database, providing accurate insights to help the team secure their open source code.
Snyk has secured £1.03b from 30 investors and acquired five tech startups so far.
Improbable creates virtual environments that simulate real-life scenarios to help businesses and governments solve universal problems in the technology space. As the world reimagines technology to include immersive environments, enterprises will require customisable infrastructure to create virtual experiences for their audiences.
Their newest addition, SpatialOS, is a new-age operating system that defies traditional computation methods by allowing users to run multiple game servers in a single instance. This means that SpatialOS can host small-scale to global multi-player gaming scenarios with little downtime.
Improbable’s technology is popular among gaming, defence, and cybersecurity companies.
Established in 2012, Improbable has raised a total of £444.6m in funding.
Satellite Vu is a London-based firm that provides an online platform for monitoring the temperature of any structure on the planet in near real-time to reveal economic activity, energy efficiency, and carbon footprint insights.
The company supports global decision-making around the energy business, investors monitoring economic activity, and sustainable finance. Natural disaster responders, building managers, and plastic clean-up workers are just a few of the professionals it supports.
Satellite Vu has raised £18.6 million in funding over two rounds.
Kheiron Medical Technologies is transforming cancer research through its Artificial Intelligence (AI) and deep learning technology to deliver better treatment solutions. For example, their Mammography Intelligent Assessment (MIA) platform uses AI to increase the accuracy of breast screening data for patients to make informed health decisions.
Kheiron’s technology also increases image quality, reduces technical recall rates, and highlights training needs through the MIA IQ quality assurance tool.
The company was established in 2016 and has raised £16.41m from seven funding rounds.
Searcharter is the go-to platform for passengers to get empty flight seats on sale and for tour operators and charter airlines to offer empty seats for sale on their flights. So, in essence, the platform creates a win-win solution for airlines to stay profitable and travellers to get affordable air tickets.
Airlines have often grappled with low season bookings where they struggle to get to maximum bookings, resulting in higher operational costs. With Searcharter, charter services and travel agencies can repackage unused flying seats into affordable travel solutions that are just as good as traditional flight services.
Argent is a non-custodial wallet providing safe crypto transactions, backed by attractive incentives to grow your crypto investments.
Founded in 2017, Argent’s decentralised finance platform does every transaction you’d expect in a bank while also giving users more control over their investments. You can store and send crypto, block transactions, and earn up to 15% in interest.
Argent is unique from other crypto wallets because of its no seed phrase approach and multi-level security features like multi-signature, biometrics, and blockchain-based fraud security.
The company mainly supports Ethereum and Ethereum-based tokens such as DAI, BAT, MKR and Wrapped Bitcoin.
Argent has conducted three funding rounds totalling £11.92m.
Neurobotx uses neuromorphic computing – a combination of state-of-the-art neuroscience, AI, and robotics – to create spatial intelligence for autonomous vehicles and drones. A team of top-level researchers builds brain-inspired neural networks for smart navigation.
The goal of neuromorphic computing is to rethink computer architecture from the ground up. The objective is to apply current neuroscience research to create chips that function more like the human brain than traditional computers. Neuromorphic systems replicate how neurons are structured, communicate, and learn at the hardware level.
Neurobotx has raised $211,900 in three funding rounds, the most recent being on January 11, 2021.
- Linkedin Diana Deca
Protein therapeutics have long been a treatment solution for life-threatening diseases such as cancer. But the drug discovery process is often plagued by inaccuracies and complexities, which is why LabGenius is rethinking this process with synthetic biology, robotic automation, and machine learning to discover better treatment solutions that effectively target problem areas. The company’s protein engineering discovery platform (EVA) uses advanced computation and data sequencing to cross-optimise drugs and explore solutions to reduce treatment failure rates.
LabGenius has successfully conducted five funding cycles amounting to £21.12m.
Bakuun.com is a web-based platform that offers affordable hotel stays for passengers when there's a flight delay by giving attractive hourly rates to airlines, helping them save money and time from making their bookings. Additionally, Bakuun offers a co-branding service for airlines to promote their brand values with other hotels and airports.
Bakuun provides a powerful engine that processes up to 100 bookings in less than two minutes by combining transfers and hotel availability.
Bakuun.com is led by Marco Bacchilega, the Company’s CEO. Five funding rounds have raised a sum of $1.2M.
Streetbees bills itself as the world’s first human intelligence platform that captures real-life experiences at scale. The company’s approach disrupts market research by providing businesses with rich consumer data, moment-of-truth observation, and an engine that analyses this data to identify hidden opportunities within millions of real-life scenarios.
The chat-style application allows people to share their daily life moments through text, photos, and video. It then applies natural language processing (NLP) to analyse the data and predict a consumer's next move.
Streetbees has raised £46.95m and partners with global brands to drive business value.
Sen is a next-generation streaming service that relays real-time videos from outer space to billions of viewers. Its big idea is to address the scarcity of educational information about large-scale natural events that affect humanity every year. So, the company developed a state-of-the-art media service to educate, inform, and inspire people worldwide with high-definition satellite information about the planet.
The company's satellite videos use augmented reality (AR) to stream information to people, businesses, and governments to help them respond faster to disasters and ever-changing planetary events.
Sen was founded by Charles Black in 2014 and has completed four funding rounds amounting to £3M.
Wagestream gives more power to employees over their pay – allowing them to track, manage and save their earned wages. The platform helps employees derive more value from their salary through tailored debt management programs, access one-on-one financial coaching, and automate savings.
For organisations, the fintech and wealth management platform helps improve employee satisfaction, reduce financial stress, and improve retention rates.
The startup launched in 2018 and is on a mission to reduce poverty incurred through payday debts, overdraft fees, and high-interest loans. Wagestream has secured a total of £58.36m in funding so far.
Space debris is becoming a real problem. There are currently more than 27,000 pieces being tracked by NASA, posing a real threat to space activity. Moreover, as more companies rely on satellites and space assets, they need precise information on satellite orbits to prevent devastating collisions.
Lumi Space is helping companies access space debris and satellite positioning data by using commercial Satellite Laser Ranging (SLR) technology.
The visionary company was founded by Hira Virdee in 2018 and has concluded three funding rounds.
- LinkedIn: Lumi Space
- Contact: email@example.com
As more enterprises switch to remote operations, they require safe recruitment and user authentication systems to work with verified candidates for new positions that emerge. With IProov, companies can authenticate talent during the onboarding process with their Genuine Presence Assurance technology.
IProov’s face authentication system verifies online identities for potential employees, customers, and business partners. In addition, IProov works with governments, banks, healthcare providers, and travel companies to safeguard their online engagements.
IProov recently announced £70m to fund their expansion efforts.
Wayve’s self-driving technology rethinks how autonomous mobility integrates into day-to-day life. The company’s Autonomous Vehicle AV2.0 technology applies pure machine learning to navigate complex terrain, city architecture, and changing conditions.
Wayve’s AV system mimics a human driver by learning city routes and applying that information to new locations. The company also operates electric vehicles equipped with autonomous technology.
Wayve’s technology has garnered £41.65m in funding, fuelling growth plans into the autonomous delivery industry.
Everledger combines forensic principles with emerging technologies such as IoT, machine learning and smart contracts to increase transparency and trust in supply chain processes. Everledger is where “Supply chains meet the blockchain”.
The digital transparency company was established in 2015 and provides accurate evidence of a product’s origin to retailers, manufacturers and producers, thereby improving supplier compliance and integrity.
Everledger provides a wide variety of APIs to bring sites, apps and people together to streamline fraud detection, improve the chain of custody reporting and integrate provenance data into supply chain processes.
Everledger has secured £29.30 in funding from 16 investors.
Energy utilisation is a significant factor in satellite design because it affects efficiency, performance, and cost. For this reason, SteamJet created a compact, low-voltage and affordable water-based propulsion system to power satellites and CubeSats.
With SteamJet’s technology, satellites can stay in space for longer while delivering more output at a fraction of the cost, making them ideal for optical payloads and telecommunication services. In addition, SteamJet’s Steam Thruster provides an effective alternative to the traditional chemical, electrical or gas propulsion systems that are costlier and have a higher energy consumption.
SteamJet supports various satellite needs such as orbit maximisation, collision avoidance, constellation management, and de-orbiting.
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