Modern technology is taking over the world and making changes for the better. There are more and more tech companies in London every day. New tech products are constantly being created and introduced to the market. However, not all of them have sticking potential. Exactly what is a tech startup? “Tech” can mean a lot of things. Startups are known to be innovative and disruptive.So what exactly does it mean to be a tech startup these days?
There are a lot of FinTech companies based in London, but there are many more kinds of tech companies in London than just FinTech. With so many coworking spaces and new ways of working, London is the perfect hub for both innovative companies and disruptive companies. You’ll find there is an array of incubators and accelerators that come with the forward-thinking fast pace of London. The opportunities for scaling your startup and becoming well-known are fantastic in this massive city.
Those tech companies London is home to are doing well in the market. The UK is actually the birthplace of 37% of Europe’s unicorn companies. In total, these companies are worth over $23 billion.
So what are some of the fastest-growing tech companies in London?
Let’s check them out.
Awesome Tech Companies in London
Attest is a rapidly expanding research platform for data analytics. It connects companies to more than 100 million consumers in countries all over the world. It specializes in helping businesses gather necessary information on their customer base. Examples of this include product development, creative testing, and surveys, amongst other things.
This startup is focused on ending fake news – a lofty goal but one it is in the sights of achieving. Factmata was recently granted $750K in seed funding. The way it works is by using AI to check facts. Many claims are made on the internet, many of which are untrue. This startup hopes to sort out the fact from the fiction.
Improbable is one of the many tech companies in London that focus on virtual reality. Its multiplayer gaming technology lets users build new worlds. Since opening in 2012 in London, it now has offices in China as well as North America. These offices employ more than 300 people.
Elvie is a company that creates technology designed especially for females – femtech. Its head office is located in London, and it also has offices in New York. One technology they have created is a silent breast pump named Elvie Pump which allows women to pump breast milk anywhere they like without being noticed. Their first product, Elvie Trainer, is aimed at strengthening pelvic floor muscles.
Concured is a tool that uses artificial intelligence to verify content. It can benchmark the performance of your content over competitors to see if yours is up to par. It can also tell you about the knowledge gaps of your audience and what customers will engage with. These insights are invaluable if you want to write content that is perfectly crafted in a consistent voice for your target audience and will increase brand awareness and engagement.
While the tech company itself is young, its achievements are mighty. They are one of the tech startups in London with the most potential.
Lyst has increased in value by 134.8 times since 2015 which is incredible considering it began in 2010. Customers use it to find fashion products they are looking for. It lets them use a unique search engine to search thousands of stores at once for their items. Lyst doesn’t stock any goods. Instead, an order is placed directly with the company that owns the chosen item.
Moneybox is a new way of saving for a new generation. It rounds up your spending and saves your spare change for you. It’s a way of saving without feeling like you’re saving. They have a 5-star rating on Glassdoor, likely due to being an inclusive and social place to work.
Citymapper is a new way of finding how to get from point A to point B. It helps users find out how to get to where they are going. This includes whether walking is quicker than catching a bus or train. It functions in London and 38 other global cities.
You can plan your route in the most efficient way possible with this app, and Citymapper hasn’t stopped there. In 2017, they started running buses and taxis with the goal of reinventing the notion of transport systems. While there are many tech companies in London, this one is fast becoming one of the largest.
Are you always losing your till receipts? Can’t remember what you’ve spent where? Flux Systems is one of the technology companies in London, and it wants to solve these problems.
Flux Systems looks to solve these issues by tracking your payment receipts digitally. They partner with Barclays, Costa, Starling Bank, and pod. They use secure servers to store and process customer data to ensure their safety.
Have you ever wondered when self-driving robots will really take off? Wait no more as Starship Technologies has landed. Designed to deliver items locally, these robots are still being tested. They can’t be far from being finished though because they already have contracts with Hermes Parcel Delivery, Domino’s, and Just Eat. They raised $40 million more in 2019
Ometria aims to give companies a way of engaging with their customers like never before. They track customer purchases and analyze behavior.
They then use this information to build individual customer profiles. If you know the habits and preferences of your customers, you can truly give them the best service of their lives by predicting their every need.
Those working in and around London know the commute takes a lot out of your day. That’s why Gousto offers a new way of making dinner. It’s never been quicker or easier to cook.
They deliver the ingredients right to your door with a selection of recipes so you can cook meals at home that are better than takeout. Right now, they are delivering more than 1 million meals each month in the UK. They have been around since 2012, and since 2015, their value has risen by a factor of 20.8.
In 2012, Guillaume Pousax began Checkout.com. An investment banker in a past life, Pousax wanted to create a way of paying that had its own technology.
Checkout.com now uses more than 150 currencies for companies such as Adidas, Virgin, and Deliveroo. Deliveroo is another one of Deloitte UK’s Technology Fast 50 Members. It has offices around the world in Hong Kong, Dubai, Paris, and San Francisco.
Deliveroo is one of the tech companies London is most proud to be home to. It is not just another takeaway delivery company. It is a rapidly growing business that increased 114% to £277m in a 12-month timeframe. Uber has expressed interest in bidding on Deliveroo. They have been delivering food all over the UK for the past few years now.
With $10 billion worth of transactions processed last year, GoCardless has more than 40,000 customers. It is a global company and banking platform that gives businesses a way of receiving direct debit payments. Companies that use this system include TripAdvisor, Thomas Cook, and the Guardian.
Since 2013, Thoughtonomy has offered cloud-based software to improve office productivity. It is a solution aimed at employees who deal with information such as architects, lawyers, software engineers, and scientists. It was founded by Terry Walby who has IT experience with companies such as General Electric and IBM.
AimBrain is one of the many tech companies in London. It aims to prevent fraud in banking with modern technology solutions. It authenticates individuals with facial, voice, and behaviour recognition.
If you’re looking to get your finances in order, Cleo is your new best friend. It is an AI tool that gives insight into where your money is going. It can automatically manage your savings based on calculating how much you can afford to save. With investors such as Zennstrom, the founder of Skype, it’s definitely one to watch.
Onfido has offices worldwide including in Singapore, Lisbon, New York, Paris, London, New Delhi, and San Francisco. It checks whether government ID is real or fake by comparing it with the user’s facial biometrics.
Diverse ways of working are becoming more popular. Remote working has enabled those in other countries to work for a company. PolyAI was created to help diverse working situations work smoothly. They facilitate the working of multilingual and multicultural staff.
An IT services business, Adaptavist is one of the many tech companies in London. They provide support, products, hosting, and services to some massive organisations. These include the BBC and NASA as well as more than 50% of Fortune 500 companies.
They’ve been kicking around since 2005 and now have offices across Canada, Germany, the United States, and the UK.
SumUp is one of the leaders in the market of payment software and hardware. These kinds of companies make a commission on each transaction hosted on their online platform product.
What3words is one of the many tech companies in London, and it wants to change how people think about location. Their value has recently risen by a factor of 18.3. Why? They are giving each spot in the world a unique address in 3×3 lots. This means that places not on maps will finally have an address and therefore be findable. The map can be found online or on their app, and over 650 businesses are using this product.
FAQs about the IT companies in London
What are the top tech companies in London?
What are the fastest-growing tech companies in London?
Zego, Faculty, Cazoo, and CityFibre are among the 50 fastest-growing technology firms in the world, as ranked by Deloitte’s 2021 Technology Fast 50. These businesses have expanded rapidly thanks to their ground-breaking offerings in emerging technologies, visionary management, and secure financial footing.
How is the startup culture in London compared to other tech hubs?
The startup community in London is dynamic and multifaceted, with an emphasis on new ideas and teamwork. The city has many resources for startups, including accelerators, coworking spaces, and networking events. There have been a lot of comparisons made between London and other major IT cities like San Francisco and New York City.
What is the current state of investment in London’s tech industry?
Recent years have seen record-breaking levels of venture capital funding for London’s tech industry. Tech Nation reports that in 2020, despite the COVID-19 pandemic, London’s IT sector raised over £10 billion in venture capital funding.
What are some challenges faced by tech companies in London?
Competition for talent, rising expenses, and regulatory impediments are all issues that London, like other innovation hubs, must contend with. Concerns over the availability of skilled workers and the effect on trade and investment have been amplified by Brexit in London’s tech sector.
How is the job market for tech professionals in London?
Competition for IT jobs in London is fierce, but skilled workers can find work in growing industries like fintech, AI, and cybersecurity. Yet, the epidemic has also caused layoffs and a halt to new recruiting in several sectors.
What is the average salary for tech professionals in London?
IT professionals in London can earn anywhere from $60,000 to $120,000 per year on average, however, this number fluctuates widely depending on factors like position and years of experience. Glassdoor reports that in London, a software development engineer can expect to make an average annual income of £50,000, while a data scientist can expect to make an average annual pay of £65,000.
What is the role of government in supporting the growth of London’s tech industry?
The government of the United Kingdom has launched a number of programs to encourage the expansion of London’s tech industry, such as the Tech Nation visa scheme. The government has promised to invest in digital infrastructure and provide financial schemes to promote new businesses.
What are some notable accelerators and incubators for tech startups in London?
Techstars London, Seedcamp, and Entrepreneur First are just a few of the prestigious business accelerators and incubators located in London. Startups can benefit from these programs because of the guidance, financing, and other resources they give.
How does London’s tech industry compare to other global tech hubs such as San Francisco, New York, and Beijing?
The London tech sector is frequently pitted against that of other major cities throughout the world, including San Francisco, New York City, and Beijing. London stands out among these locations due to its large and varied talent pool, thriving startup ecosystem, and persistent emphasis on innovation and collaboration.
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