Technology is moving the modern world forward. Myriads of companies introducing tech products and services to the market in the entirely new ways appear every day. Because of the term ‘TECH”, there is often some kind of ambiguity while the very essence of a startup lies in the notion of innovation, scalability and improved customer experience. So what does it really mean to be a tech startup?
According to Todd Berkowitz, Managing VP at Gartner, a technology company “[Is] 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.”
That is, tech companies primarily focus on the implementation of the technologies to create new products or services that address real-life issues. But in the era of personalized customer-oriented approach, the old school approach to tech servicing and production is shifted. That is why there are more and more startups launched. With the US as a leading location, London is becoming a new technology hub with unicorn tech startups operating within the major cutting-edge tech areas like AI, Robotics, Cybersecurity, VR and Blockchain. The UK is recognized as the tech unicorn capital of Europe. A Unicorn status (the name originates from the notion of uniqueness) – a billion dollar valued companies are winning the market and offering new unique solutions.
UK is home to 37 percent of Europe’s total unicorn companies.
Let’s look at some of the top technology sector startups in London and the UK that promise to shine brightly.
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Artificial Intelligence is demonstrating a profound growth in popularity as one of the areas where startups in the UK demonstrate propelling growth.
Prowler.io has been stable on the tech market since 2016. The company is also engaged with the AI research sector creating AI-powered systems and bots for a number of industries. The company’s engineers create autonomous learning decision-making systems. The solutions created by the company proved to be effective and efficient within finance, city infrastructure, and driverless vehicles.
Diffblue was founded by the experts in AI and machine learning from Oxford University. Their unique product uses AI engine to automate all the traditional coding tasks – to write unit tests for Java developers automatically. Now you are all covered with test writing, debugging, exploits fixing, code refactoring, etc. The company keeps growing and builds other products for improved productivity of the software engineers and make their life easier with the help of AI and machine learning.
Cortexica is a London-based provider of the actual AI solutions for businesses. The company has been on the market long enough to gain a strong position in the area of image research solutions. It offers the now hot-in-demand Computer Vision, image recognition and research technologies alongside industry-specific consultancy. The trailblazer of it is that they continue to develop their algorithms and supporting architecture to provide the latest responsive vision AI software.
Peak.ai pioneered with the AI solutions in the area of data analytics-as-a-service with a focus on businesses grow using their data solutions. Peak is named one of the 25 fastest-growing tech companies by GP Bullhound and one of only 14 companies globally holding Amazon Web Services (AWS) Machine Learning Competency status. The highly skilled engineering team creates data management services using Big data, AI, and machine learning technologies. The solutions developed by the company provide comprehensive data analysis and recommendations based on its findings proving that at the age of data economy, data has already become a key factor influencing business. Thus, the ability to analyze data is one of the most important business assets, and Peak is working on providing companies with an advanced analytical tool to help them remain competitive.
Attest is a fast growing data analytics research platform which helps to connect businesses to a network of 100 million consumers in 80 countries globally. The company focuses on creating solutions that enable businesses with market and brand intelligence like 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.
Concured applies the advanced artificial intelligence technology to content marketing creating a platform that leverages the AI opportunities to validate content ideas. It provides a unique solution where AI analyzes multiple content sources generating insights on the competitors’ strategies, the most relevant topics, the factors affecting the content performance. As a result, the brand can create data-driven content that will be consistent and perfectly targeted. The company is among the youngest tech startups in London, however, its achievements in the intelligence-powered content generation are astonishing.
The UK is gaining its position as an incubator for cybersecurity innovations with more tech companies appearing almost daily.
AimBrain operates in the area of biometric authentication by applying voice, facial and behavior recognition to create authentication modules using deep learning technology. The authentication solutions produced by AimBrain are primarily intended for fraud prevention within the banking sector.
Panaseer uses big data technology for the development of custom enterprise security solutions. By applying advanced analytics to security and organization’s business data, the Panaseer platform provides a comprehensive assessment of risks, threats, and vulnerabilities. By utilizing high-scale analytics with the help of the security tools, the company can implement more effective protection mechanisms. The company’s position in the market of hi-tech cybersecurity solutions looks rather steady.
Wandera is a London-based startup, a cloud SaaS platform enforcing real-life mobile security to detect threats. Its unique solution for corporate devices safeguards user’s privacy, so enterprise IT can manage mobile risks including compliance and excessive data usage and gives them control with the help of machine learning tools and deep app insights for any mobile device.
The UK fintech sector is booming and keeps attracting stable investment. Here are some of the hot fintech startups.
Aire experiments with artificial intelligence applied to credit scoring. Their AI-based platform utilizes algorithms to act as “underwriters” for individuals looking for various financial products, such as bank loans. The solution the company offers is beneficial for both sides, the customer and the provider. In 2017, Aire received its venture capital financing to continue its research and development of the AI-based products.
Akoni developed a cash management system for small and medium businesses. The offered solutions are based on machine learning and data science providing the best currency rates by constant monitoring and analyzing the market.
The robotics space in the UK is progressing over the years and some really interesting startups enter the area remodeling the traditional processes.
Senseye delivers predictive maintenance solutions by integrating IoT and machine learning technologies. The cutting-edge software is used to collect and analyze data of industrial machinery thus predicting eventual failures which enables maintenance costs savings and better operational processes.
Oxbotica is an autonomous vehicle software company. It addresses the hot issue of technology enabling machines to robustly navigate, understand and act in their specific environments. Using computer vision and machine learning techniques, the company engineers build autonomous vehicle control systems, self-driving vehicles and fleet management solutions.
The Small Robot Company is a UK-based startup focusing on an agri-tech robotic service through its Farming-as-a-Service (FaaS) model. Founded in 2016 the company offers robotic hardware services that digitize farming processes including crop and soil monitoring robot, the precision drilling and planting robot.
Automata, a London-based startup was founded in 2015 to make robotics affordable and usable. The company applies robotics-as-a-service (RAAS) business model by integrating robotics into everyday processes and workflows.
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The worldwide interest for the VR is growing stronger with a lot of companies emerging. And the UK is no exception.
Oxford VR is the startup which focuses on therapy issues by building psychological treatments with the help of virtual reality technology. Founded in 2016, the company has made great progress with VR and a cognitive-behavioral therapy approach. Using the suite, patients can find new ways of thinking and behavior with the help of automated treatments by a virtual coach adapted to each condition.
Improbable is another London startup. It offers a comprehensive platform for creating virtual and alternative reality applications. Their product, SpatialOS allows producing rich, feature-heavy virtual spaces for simulators and games. The platform uses cloud computing to run its services, thus enabling easy and cost-effective resource provisioning and scaling.
Blockchain technology in the UK is growing into real use cases and generates business value.
Electron is implementing blockchain-based solutions in the energy sector. Its innovative solutions make it possible to create efficient and environment-friendly energy systems for enterprises and households. It has already delivered its products to a number of companies in the UK. Blockchain-enabled technology allows to control of energy meters and monitor resource allocation.
Appii is a London-based startup which applies blockchain technology to support employee CV verification and background checks. Using the solution, the job-seekers can create profiles with verified credentials, highlighting qualifications and other personal information, like ID, etc. These credentials are verified with the employers and educational institutions in an absolutely secure way.
Vault is one more startup launched in London. It offers a platform harnessing private distributed ledger technology to create a reporting solution for managing and mitigating any form of misconduct at the workplace. Its secure effective solution enables employees to submit reports with other affected colleagues confidentially and increase the level of trust and productivity.
Startups are disrupting every industry vertical all over the globe. The UK is home to an impressive number of them, which makes a real impact on the economy revolutionizing tech world.
Though the market is booming and it’s difficult to identify your way within the tech ecosystem, it might be a good start to consult an expert in technology innovations.
We at Relevant Software are here to help you out with your needs so that your next great idea really works.