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10 promising UK startups you should be keeping an eye on in 2023

The UK has emerged into a prominent startup ecosystem, fueled by top-notch educational institutions, a booming labor market, and advantageous policies. In the UK, renowned universities and research organisations produce a skilled workforce and foster collaboration between academia and industry. The country’s diverse range of career opportunities attracts talent from around the world, contributing to the dynamism of the startup scene.

Over the last decade, London has established itself as a global leader in the startup and venture capital space. It ranks among the top global startup hubs year after year, attracting roughly €19 billion in VC investment. The city’s vibrant ecosystem, concentration of talent and investors, and strong support network have created an environment conducive to entrepreneurial success.

The UK ranks third internationally regarding VC investment and ecosystem value. The most significant sectors in 2022 were Fintech, Health, and Energy, which accounted for more than half of VC investment in the nation. London’s status as a major hub for startups and venture capital, as well as the city’s abundance of unicorns, demonstrate the city’s importance in the startup ecosystem enhancing UK’s reputation as a desirable location for businesspeople and investors looking for chances of growth and innovation.

We’ve set out to find the startups that are most deserving of your attention. Here are ten outstanding UK-based firms that have all been operating since 2020 and are poised to have an auspicious future. 

CarmoolaCarmoola: 2021-founded, Carmoola provides an entirely new way to pay for your next vehicle. Say goodbye to broker commissions and hidden costs and hello to transparent financing with plans that work for you. With round-the-clock assistance, managing your accounts has never been simpler. Headquartered in Londin, Carmoola set out to revolutionise the auto financing sector and has already raised more than €172 million. 

CarbonplaceCarbonplace: Carbonplace is an easy way to transfer verified carbon credit transactions. It provides a settlement infrastructure for marketplaces and exchanges and supports the development of high-quality carbon credit projects. Additionally, Carbonplace fosters a strong ecosystem for the voluntary carbon market and offers tools to help clients manage climate risk. Founded in 2020 with headquarters in London, Carbonplace has impressively raised over €44 million. 

HealtisticHealistic: With an all-in-one healthcare management and commerce platform Healistic is at the forefront of the ‘Open Healthcare’ revolution, The platform provides near-instant delivery of healthcare products, including medication, supplements, cosmetics, and personal care items. Founded in February 2022 and headquartered in London, the fast growing startup has successfully raised over €2 million. 

TerraTerra: Headquartered in London, Terra offers a solution that enables access, and unification of the structure of health data from diverse sources, including Garmin, Fitbit, and Oura, using a single API. No matter how the data is presented or how it was created, Terra’s technology ensures that the data is understandable and accessible to our clients. Founded in 2021, Terra has raised almost €3 million.

m3term3ter: With its cloud-based metering and pricing engine, m3ter, SaaS companies can easily implement usage-based pricing. Users may collect usage information, set up sophisticated pricing, and automatically compute bills with the help of this platform, improving customer satisfaction and boosting sales productivity. Headquartered in London, m3ter has raised over €16 million since it was founded back in 2020.

SikoiaSikoia: London-based Sikoia provides a comprehensive solution for financial services through its unified data platform and API marketplace. Their mission is to make it easier and simpler for fintechs, lenders, and corporations to embed financial innovation, automate their lending decisions, and ensure delightful customer experiences. Clients may streamline their lending process with assistance from Sikoia, from customer onboarding to risk underwriting, by doing away with the time-consuming chore of reconciling data from disorganised spreadsheets or outdated systems. Established in 2021, this promising startup has raised over €8 million in investment.

Inflow

Inflow: Headquartered in London, Inflow is dedicated to empowering people with ADHD to realise their full potential through easily accessible, reasonably priced, and efficient care. Inflow works to lessen this burden for those who are neurodiverse since they recognise that getting support might be difficult. Members of their engaging, science-based programme gain a deeper awareness of themselves as well as useful tools, coaching, and ADHD management techniques. Infllow provides a welcoming, stigma-free, and secure community where people can flourish. It was founded in 2020 with an almost  €13 million initial funding round.

EarthlyEarthly: London-based Certified B Corp seeks out high-integrity, nature-based solutions globally in an effort to eliminate one billion tonnes of CO2 by 2030. Their trusted marketplace gives companies the chance to finance initiatives that adhere to criteria endorsed by an independent scientific board and are tracked by satellite. Impact driven, Earthly was able to raise more than €2 million in funds since their establishment in 2020.

Holly HealthHolly Health: London-based Holly Health offers a fully digital service that specialises in aiding individuals to translate their health intentions into actionable daily steps for improved mental and physical well-being. With the assistance of proprietary AI systems, this service delivers a personalised and compassionate approach akin to having a human health coach. It has garnered recognition as one of the top three health apps for weight management, stress reduction, wellness, and sleep. With a goal to support five million people by 2025 in leading active, creative, low-stress lives with sufficient daily support, the company was founded in 2020 and has successfully raised over €1 million in funding.

SonaSona: London-based Sona, provides frontline workers with a dedicated mobile app designed to streamline work management and facilitate communication with their employers. The app offers a range of features, including a live schedule view, absence management, instant messaging, and Open Shifts—a platform that enables employees to book available shifts. By optimising communication channels and simplifying scheduling processes, Sona empowers organisations to enhance operational efficiency and foster higher employee engagement. Established in 2021, the young company has successfully more than  €8 million in funding to support its growth and development.

By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!

Antonio L. Escárzaga
Antonio L. Escárzaga
Antonio López Escárzaga is the Head of Content at EU-Startups, with a background in Digital Marketing, Antonio drives his passion for effective communication and entrepreneurship. He firmly believes in communication’s transformative power and strives to harness it to foster growth and innovation.
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