5 UK Tech Startups to watch in 2022
When it comes to tech startups and innovation, the UK is one of the world’s hotspots. In fact, it’s estimated that a new startup is born every single minute in the UK, with over 1000 businesses per 10,000 people nationwide.
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While London is undeniably the epicentre of the UK’s startup scene, there are ever-expanding tech hubs across the country, with Bristol, Manchester and Leeds among those listed by Wired as areas set to accelerate their status as digital powerhouses as the pandemic subsides.
Covid-19 has, of course, turned the working world on its head, recalibrating both where and how companies conduct their business. This sudden shift of the status quo, coupled with our newfound reliance on technology, has been a major boost to startups who are typically eager to innovate and offer consumers an alternative.
The startups featured on this list weren’t born during the pandemic (the youngest are 5 years old), but they all represent a new way of doing things, with innovation at the heart of their culture. Already successful, these disruptors are set to become household names over the course of 2022 and beyond.
Revolut
Founded: 2014
Headquarters: London
To be honest, earmarking Revolut as ‘one to watch’ is a tad daft. The London-based fintech startup is well on its way to neobank domination, having raised north of £1bn over 14 funding rounds from an envy-inducing 42 investors and completed its US expansion last year.
Revolut is poised to be the all-in-one finance provider of the future, providing digital banking services for GBP and EUR accounts (personal and business), a range of currency exchange services, stock trading facilities and even a cryptocurrency exchange. Now that is revolut-ionary.
Darktrace
Founded: 2013
Headquarters: Cambridge
Hailing from one of the UK’s smartest cities (as in, lots of clever people), Darktrace is a world leader in autonomous cyber AI, using its advanced technology to interrupt in-progress cyber-attacks in seconds, including ransomware, email phishing, and threats to cloud environments and critical infrastructure.
Due to its powerful ability to prevent cyber disruptions for over 5,500 organisations worldwide, the Cambridge-based startup has garnered the attention of 11 investors to date with a combined total of £167m in funding. I think this Artificial Intelligence thing might really catch on...
Depop
Founded: 2011
Headquarters: London
Gen-Zs (and certain sartorial-minded millennials, your author included) will read this and scoff at the notion that Depop might feature on a mere watchlist. After all, the ten-year-old eCommerce platform has been De-poppin’ for a while now in kool kid circles. The Shoreditch-based (where else?) startup provides a peer-to-peer marketplace that allows users to buy and sell from their phones.
Depop’s so-hot-right-now offering seduced 12 investors to splurge £76m in funding before it was acquired by Etsy earlier this year for an eye-popping £1.1bn. Unfamiliar with Etsy? Just ask your colleague who sews kooky floral facemasks, she’ll tell you.
Graphcore
Founded: 2016
Headquarters: Bristol
Straight Outta Silicon Gorge, Graphcore is a pioneering startup that creates and develops new accelerators for AI and machine learning. With a portfolio comprising 4 cutting-edge products, Graphcore’s IPU (intelligence processing unit) aims to be transformative across every industry from medical research to robotics to autonomous car development.
An absolute behemoth of an investor magnet, Bristol’s semiconductor sensation has raised approximately £500m from a group of 30 investors to date, an enviable list that includes tech giants Microsoft and Dell Technologies Capital.
DoctorLink
Founded: 2016
Headquarters: London
Thankfully, DoctorLink’s ability to foresee the digital revolution was considerably clearer than a GP’s handwriting, launching 5 years ago to help NHS practices provide online consultation services to their patients. Through its clinical decision algorithm, the London-based startup is enabling healthcare providers to save costs, improve efficiencies, and increase the accessibility of healthcare.
The right service in the right place at the right time, DoctorLink has garnered serious attention from investors, having raised £20m from Eight Road Ventures in 2017 followed by last year’s acquisition by fellow UK-based telemedicine tyro, HealthHero.
At Gravitywell, we love working with enthusiastic startups and can help with prototypes, pitch decks, MVPs and conceptual work. If you’d like to discuss how we can take your idea to the next level, get in touch.
