The UK, and specifically London, has long been the epicentre of startup activity and VC funding in Europe, outpacing other European countries by billions of euros in investment, and with more startups launching each year.
“Top 100: Britain’s Fastest-Growing Businesses”, is a new report published by the online investment platform SyndicateRoom, which uses private data to track the UK’s 100 fastest growing startups based on the increase in their valuations from 2015 to 2018. Three-quarters of the companies that made the list are tech startups – from cleantech to femtech to medtech – with the majority being based in London. Below is a snapshot of 10 of the UK’s fastest growing startups. For the full list, along with in-depth founder interviews, you can check out the full report here.
Bulb: Founded in 2015, Bulb tops the list, its valuation having grown by 351x. Bulb is an energy company providing 100% renewable electricity to over 850,000 homes in the UK from independent generators, while offering some of the cheapest prices on the market.
Lyst: Founded in 2010, Lyst came in number two in terms of growth with a valuation increase of 134.8x since 2015. A global fashion search engine connecting consumers to 11,000 fashion designers and stores worldwide, its platform uses technology to curate the shopping experience of each of its users.
CMR Surgical: Founded in 2014 in Cambridge, this startup has developed a robotic system called Versius for minimally invasive surgery. The solution is designed to be compact, versatile, and cost-effective – making it accessible for hospitals everywhere. The startup’s valuation increased by 45.5x in the analysis period.
Streetbees: Founded in 2015, Streetbees’ platform gives brands insights into how people buy and use products, by gathering and analysing consumer data, including photos and videos, in 87 countries. Growing quickly, Streetbees’ valuation has increased by 24x.
Gousto: Founded in 2012, Gousto offers a selection of over 30 recipes per week on its platform, and delivers quality ingredients to people’s doorsteps to help on-the-go professionals eat healthy, home-cooked meals. The startup currently delivers over one million meals across the UK each month, and its valuation has increased by a factor of 20.8 since 2015.
what3words: “Our goal is to change the way people think about locations,” said Chris Sheldrock, what3word’s co-founder and CEO. The startup offers a new type of mapping service, assigning a unique, three-word address to each 3m x 3m location on the globe – making it possible to locate spaces that are “off the grid”. It’s map can be accessed via a mobile app or online, and is used by over 650 companies and organisations worldwide. It’s valuation has increased by a factor of 18.3, according to the report.
Elvie: Founded in 2013, Elvie is a femtech startup that has developed a pelvic floor trainer to help women with problems like bladder control and postnatal recovery using fun workouts. Next in the pipeline, they are offering the world’s first silent, wearable breastpump – which fits in your bra. The startup’s valuation has increased 15.7x since 2015.
Expend: This startup helps businesses automate their expenses and cut down on admin time, through the combination of a payment card, phone app, and browser dashboard. Its valuation has increased by a factor of 10.3, according to the report.
Recycling Technologies: Founded in 2011, this cleantech startup is doing something about the massive environmental problem that is plastic waste, of which only 10% is recycled globally. Through a combination of chemical and mechanical methods, the startup aims to increase plastic recycling rates by up to 90%. Its valuation has grown by a factor of 9.7 since 2015.
Blippar: Founded in 2011, Blippar specialises in using augmented reality (AR) and computer vision to create more engaging advertising campaigns for some of the world’s top brands, including Pepsico and General Mills. Its valuation has increased by a factor of 9.5.