Top 15 London Tech Startups in 2018
Hundreds of startups appear on the market with each year, many of them claiming to be “tech startups.” Nowadays, belonging to the “tech” category can bring certain benefits both in funding opportunities and in taxation and regulation aspects, however, not all tech startups are, in fact, “tech”. What is it that turns a startup into a “technology” one?
Todd Berkowitz, Managing VP of Gartner, defines a technology company as follows: “It’s generally a company whose primary business is selling tech or tech services. A more nuanced definition is a company with tech or tech services as a key part of its business. It’s a hard question.”
In other words, technology companies focus on implementing cutting-edge technologies to create new products or services that can solve actual problems.
Even a decade ago, a discussion of advanced technology inevitably switched to the analysis of the achievement of US-based tech companies. The UK seemed to always be in the shadow.
However, in the recent years, we have been hearing more and more about the UK technology companies winning the market and offering new unique solutions. Let’s look at some of the toptech startups in London and the UK technology sector that may be worth following in 2018.
Today, London is steadily turning into a new European technology hub, and for this analysis, we have selected some of the most exciting tech startups in London and the UK working in different categories, such as Cybersecurity, FinTech, Robotics, Artificial Intelligence, Hardware, Virtual Reality, and Blockchain.
The company operates in the area of biometrics authentication applying voice, facial and behavioral recognition to create authentication modules. The startup uses the deep learning technology in its products.
The authentication solutions produced by AimBrain are primarily intended for banks to prevent fraud. By implementing AimBrain authentication modules, banks can analyze customers’ voices over the telephone, faces on the ATM cameras and account management behavior to identify them.
AimBrain was founded in 2015, and in 2017 secured venture capital investment. The company is actively engaged in the development of its security and authentication solutions.
Panaseer is one of the startups in London that uses the big data technology in creating enterprise security solutions. By applying advanced analytics to the enterprise IT, security and business data, the Panaseer platform provides a comprehensive assessment of risks, threats, and vulnerabilities.
Using the analytical data provided by the Panaseer security tools, the company can implement more effective protection mechanisms.
Panaseer began its operation in 2014 and managed to obtain its venture capital financing in 2017. The company’s position in the market of hi-tech cybersecurity solutions looks rather steady.
Aire experiments with applying artificial intelligence to credit scoring. Aire’s AI-based platform uses advanced algorithms to act as “underwriters” for people seeking access to various financial products, such as bank loans.
The solution Aire proposes brings benefits both for the potential borrowers and for the financial institutions. If a borrower’s credit history is verified by AI and their credit score is generated using this data, the borrower is more likely to receive the loan while the institution profits from a new client.
The company was created in 2014 and now has reached the profit-generation stage. In 2017, Aire received its initial venture capital financing to continue its research and development of the AI-based products.
Akoni develops a cash management system for small and medium businesses. Akoni’s solutions are based on machine learning and data science providing the best currency rates by constantly monitoring and analyzing the market.
Akoni is filling the niche of cash management systems for small and medium companies while traditionally these services were mostly focused on individual consumers.
Akoni was founded in 2015 and is now at the seed stage. The team is looking forward to 2018 as they believe that it is going to be the year of commercial banking solutions.
Senseye integrates the IoT and machine learning technologies to build predictive maintenance solutions. Senseye software can be used to monitor various industry machines and mechanisms.
By collecting and analyzing the data of industrial machinery, Senseye application can predict eventual failures. The company applying Senseye products can significantly save maintenance costs by scheduling repairs before the fault occurs.
Senseye has been in operation since 2016. In 2017, it already started generating profit after securing VC financing.
Oxbotica has taken up the challenging task of developing self-driving vehicles. Using computer vision and machine learning, the company creates autonomous vehicle control systems and fleet management solutions. In 2018, the Oxbotica team plans to create a fleet of self-driving vehicles controlled by a single system and communicating with each other.
Oxbotica was started in 2014 and is now at the profit generation stage.
Prowler.io positions itself as a “decision company.” It is one of the new startup companies of UK working in the AI research sector. Prowler.io builds autonomous learning decision-making systems. The solutions created by the company can be used in such industries as finance, smart city systems, driverless vehicles.
Prowler.io has been on the market since 2016 and is deeply engaged in AI research and creation AI systems and bots for various industries.
ASI Data Science is another of UK startups applying artificial intelligence to the decision-making process. Using the advanced algorithms of data processing, the company creates solutions that allow businesses to interpret their operational data for the maximum profit.
ASI Data Science was founded in 2014 and has been included in several London startup events, such as the Upscale 2018.
Peak’s area of business is data analytics-as-a-service. This UK startup creates data management services using the Big data, AI, and machine learning technologies. The solutions developed by Peak provide comprehensive data analysis and recommendations based on its findings. The company is focused on helping businesses grow using their data solutions.
Peak.ai believes that now we live in the age of data economy with data becoming one of the major factors influencing businesses. Thus, the ability to analyze data is one of the most important business assets, and Peak is working on providing companies with the advanced analytical tool to help them remain competitive.
Since its founding in 2014, Peak.ai already managed to secure venture capital investments and is actively working on data analytics solutions.
We include Attest in the list of the London startups of 2018 for its research in the data analytics area. The company focuses on creating solutions that enable businesses to do brand awareness research, surveys, creative testing, product development and other services.
Attest’s solutions provide great real-time data and an extensive analytical suite that can generate valuable insights on the company’s performance on the market, study the customers’ behavior, help to make decisions about new product development. With Attest’s product, a brand can build its marketing strategy on the basis of the actual market data that is interpreted by the advanced algorithms.
Attest has been on the market for three years and has already begun generating revenue. The team continues its research in the AI and big data sector to improve its analytical products and create new ones.
Concured applies the advanced artificial intelligence technology to content marketing. The overall amount of content in the world has grown to a tremendous size, and it is increasingly difficult to find your way in this abundance, let alone define the best content marketing strategies. The challenge Concured has taken on is creating a platform that leverages the AI opportunities to validate content ideas.
In the Concured’s solution, AI analyzes multiple content sources, providing insights on the competitors’ strategies, the most relevant topics, the factors affecting the content performance. As a result, the brand can create a data-driven content that will be consistent and perfectly targeted.
Concured is among the youngest tech startups in London. It has been on the market for three years; however, its achievements in the AI-driven content generation are astonishing.
The list of top tech companies from London will be incomplete without a startup working on the hardware components serving the advanced software technology. Graphcore has chosen a task of developing a powerful IPU accelerator for AI applications.
The execution of AI algorithms requires significant computing capacities, and the platform offered by Graphcore can provide the power sufficient for such complex computations.
The hardware solutions created by Graphcore are built with a view of the future AI requirements and can be easily scaled to withstand an increased load.
Graphcore systems ensure fast and reliable AI performance while reducing the operation cost.
Graphcore, founded in 2016, is relatively young, however, its research potential has already secured the later stage venture capital financing for the project.
Another London startup that is worth attention is developing a comprehensive platform for creating virtual and alternative reality applications.
Their product, SpatialOS, allows producing rich, feature-heavy virtual spaces that can be used in games and simulators. The platform uses cloud computing to run its services, thus enabling easy and cost-effective resource provisioning and scaling.
The product is available as a downloadable SDK that can be used together with other VR tools. With the platform created by Improbable, you can develop, run and manage VR applications of various scale and complexity.
The company has been on the market since 2012 and has already earned the trust of both customers and venture capitalists who have provided investment for the project.
Electron is working on implementing blockchain-based solutions in the power and energy sector. Its advanced products allow creating cost-effective and environment-friendly energy systems for enterprises and households. With Electron applications, energy supply closely matches the demand, which reduces power losses and overall costs.
The decentralized structures that can be created using the blockchain technology are used to control energy meters and monitor resource allocation. Besides blockchain, Electron applies such advanced technologies as the Internet of Things and AI to achieve the most optimal results.
Electron was started in 2015 and has already delivered a line of blockchain-based energy monitoring products for the UK companies.
Elliptic chose the security of blockchain transactions as its area of business. The company maintains a database of cryptocurrency addresses and uses it to verify the legitimacy of operations. Elliptic assists law enforcement agencies with investigations of crypto operations.
Another sector in which Elliptic conducts research and development is anti-ransomware. The company’s portfolio includes a solution that can identify ransomware attacks where cryptocurrency was demanded. It can then track the ransom and mark it as illegitimate which makes it next to impossible to use. Elliptic was first created in 2013 and has already turned into a profit-generating company.
As you can see, the technology startup market of the United Kingdom has turned into quite a busy place. We do not claim to have put together a full list of the best London startups of 2018, but we have selected those that work with the most advanced technologies and offer the most exciting and creative solutions.
We believe these projects are worth following and supporting as they seem quite capable of making a difference in the British tech sector rather soon.