Top 10 UK Blockchain Startups and Technology Companies to Watch in 2022

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Blockchain technology has proven itself as a legitimate disruptor caused by the industrial revolution. The numbers have grown at such an exponential rate that the annual global spending on blockchain solutions is expected to hit $11.7 billion by 2022, as indicated by the International Data Corporation.

The market is growing rapidly, with more people jumping on the bandwagon every day. If you are intrigued by blockchain technology and are looking for advice, reach out to the Relevant Software team, which has developed over 200 successful projects in this area. We will help you invest in the best blockchain startups in the UK that have shown exponential growth and outshined their competitors.

Let’s check out the top UK blockchain startups to see what success looks like in this industry.

Blockchain.com

Blockchain.com is one of the most successful UK blockchain technology companies ever. It is a full-stack crypto services platform that allows users to hold, trade, and manage cryptocurrency assets. The company works with B2B and B2C clients to develop financial services standards and infrastructure for cryptocurrencies. 

Blockchain.com was founded in 2014 and has been incredibly fortunate in the blockchain space since then. The startup was one of the pioneers in the industry and developed infrastructure for the bitcoin community. Later, it established the Blockchain Explorer that allowed individuals to examine blockchain transactions and build on Bitcoin through their APIs.  

It has raised £356 million in equity fundings from investors based in Silicon Valley, Wall Street, and London. Interestingly, £218 million out of the total was gathered in a single funding round in 2021. 

Elliptic

Elliptic is a London-based startup offering blockchain analytics, certifications, regulatory compliance, and financial management services. 

Elliptic started in 2013 as a simple bitcoin storage service that used to hold bitcoin private keys, protecting them from hacks and thefts. With time, it evolved into a full-fledged blockchain analysis provider, working with some of the largest financial institutions to protect them from financial crime in crypto assets. 

The company helps investigate illegal Bitcoin transactions, tracing them through all entities in the chain. It maintains a database of millions of Bitcoin addresses that detects suspicious cryptocurrency activity. One area of Elliptic’s research and development is a response to ransomware attacks. The team has created software that can identify such attacks and trace the ransom received during them. 

Elliptic is the only blockchain analytics provider recognized by the World Economic Forum as a Technology Pioneer. In addition, it is currently managing 66% of all crypto volume exchanges in the world. The startup raised $5 million in seed funding in 2015 and $23 million in Series B funding in 2019.

Zamna

Zamna is another brilliant startup in the blockchain space using this technology to create a secure identity data management infrastructure for organizations and individuals. Their mission is to enable a reliable and free flow of identity data in the travel ecosystem and beyond.

Zamna uses blockchain to create applications that verify the digital identity of individuals and share this identity securely across different platforms. A practical example of what they are trying to achieve would be an ecosystem where you could travel across countries and stay in different hotels without using your physical passport.

The company is also working to apply the same concept in the healthcare industry, where the health status of each individual could be digitally verified without any data security or leakage issues.

The startup has received over $5.9 million in equity funding so far and continues to grow with its highly useful and disruptive solutions.

Adhara

Adhara works mostly with giant corporations and financial institutions to handle their liquidity management and international payments for decentralized financial networks. Other solutions include multi-currency payment processing, FX, and international payments based on tokenized money over smart contracts.

Adhara was recognized as a Technology Pioneer by the World Economic Forum in 2021. Also, their CEO was named one of the top 25 blockchain technology CEOs of 2020 by Technology Innovators Magazine.

The company recently secured $7.5 million in Series A funding from Yabeo, FOMCAP, and a few other investors. The total equity fundraising stands somewhere close to $14 million.

Argo Blockchain

Argo Blockchain is the first and only cryptocurrency mining company to gain admission to the London Stock Exchange through a standard listing. The company is publicly traded now and focuses on large-scale cryptocurrency mining.

Argo Blockchain has state-of-the-art mining facilities with cutting-edge equipment and highly energy-efficient machines. Their focus is on creating affordable consumer services for crypto mining to channel in as many consumers as possible.

This startup is one of the only blockchain technology development companies in the UK that has become ‘climate positive’ for Scope 1, 2, and 3 greenhouse gas emissions. The total equity fundings it has raised amounts to $24.4 million.

Everledger

Everledger is revolutionizing the supply chain by utilizing technological solutions such as blockchain, artificial intelligence (AI), and the Internet of Things (IoT) to increase transparency. The goal is to make asset information more transparent and accessible for high-value products.

Producers that sign up for the Everledger Platform can evidence their products’ origin, ownership, and characteristics. The app can be used to provide clear evidence of production details for object-level provenance records that are added to the blockchain.

Everledger recently won a $3 million blockchain project from the Australian government. Previously, they have received $7 million in bridge funding from the UK government and $20 million in Series A funding from the Chinese. The total equity funding stands close to $40 million.

Travala.com

Travala is a blockchain-based travel booking platform that lets customers book over 3 million travel products around the world with popular cryptocurrencies. The company was founded in 2017 and has grown very quickly to become a frictionless travel booking company that uses next-generation blockchain technology and tokenized incentives.

The company aims to align travel booking with decentralized technology, promoting accessibility for its users and censorship-resistant peer-to-peer transactions. The platform currently covers more than 2,200,000 properties at 90,124 travel destinations across 230 countries, and the prices are up to 40% lower than other mainstream travel booking platforms.

The company is based out of Lancashire, United Kingdom, and has raised £2 million in equity fundings.

Coinfirm

Coinfirm provides comprehensive blockchain services, including blockchain analytics, crypto exchanges, risk management, investigations, and regulatory compliance. Coinfirm has the mission of powering mass adoption of blockchain and creating a safe blockchain economy with AML/KYC compliance.

Coinfirm’s blockchain RegTech solutions help launch new exchanges, establish market leaders on the global stage, and comply with all regulatory standards. Additionally, real-time risk alerts of fraudsters and other bad actors allow for a secure crypto exchange environment. The analytics services cover different types of risk reports, case management, C-Live tracking, and visualizations.

The company was founded in early 2016 and has grown to become an internationally recognized RegTech firm. It recently raised over $4 million in an institutional funding round led by Bird Capital.

Fetch

Fetch.ai creates an open access, tokenized, and decentralized machine learning network to enable smart infrastructure built around a decentralized digital economy. The Fetch.ai architecture allows users to develop and deploy complex AI-based models for decentralized problem-solving.

Fetch.ai has its own Ethereum-based token, FET, that powers applications across its platform. The token is almost as safe as Bitcoin and Ethereum and can be easily traded on platforms like Binance.

The company is based out of Cambridge and was founded in 2017. It has raised an estimated $26 million in funding over three rounds and four years of operation.

SETL

SETL provides enterprise-grade blockchain solutions for real-time financial settlements, asset management, and payments. It provides its customers with services such as reliable identity verification, secure messaging, and expedited transactions. SETL uses a distributed ledger platform to execute transactions providing top security.

The solutions provided by SETL are incredibly fast, with a capability of delivering 30,000 transactions per second. Moreover, the record-keeping is perfectly immutable, and the loss of one or more nodes does not impact the system’s availability. This transaction speed dramatically reduces the time required to complete payments, while the level of security and identity verification remains just as strong as conventional banks.

SETL was founded in 2015; however, it has accumulated an impressive client base and is getting continuing media attention. It is trusted by some of the leading organizations in the world, such as Citibank, Deloitte, and Orange, and has raised around $39 million in funding so far.

Summary

It is easy to get lost in the fast-paced world of blockchain and cryptocurrencies. New companies emerge every day, and it is vital to understand the basics to navigate this environment. We hope our detailed overview of the top blockchain-based startups in the UK was helpful and gave you a clear idea of what the blockchain space will look like in 2022.

If you are looking for UK blockchain companies to invest in, we recommend you select the business that has been on the market for some time and has completed many successful projects in the past. For help in this regard, contact us, and we would love to help you out.