Table of Contents
AI-powered Startup Growth in London
Introduction
Artificial intelligence, commonly known as AI, is a field in computer science that uses big data to allow computers to learn patterns and solve problems. The resulting programs and tools can simulate human intelligence and have become more prevalent in everyday life. As AI development is evolving quickly, AI-powered startups are growing rapidly in various industries. In this article, we will examine the top 10 AI companies in London based on the total amount of money they have raised to date.
OneTrust – Leading the AI Security Space
OneTrust is a London-based AI company that develops business-to-business security software to help users manage their cybersecurity, privacy, and third-party risk. It can be integrated with various applications and has been recognized for its fast growth. OneTrust became a unicorn in 2021 with a valuation of £2.6b, after raising a total of £699m in four funding rounds. The latest funding round was led by SoftBank’s Vision Fund 2.
Thought Machine – Revolutionizing Banking with AI
Thought Machine is a London-based AI company that has developed a cloud-based banking platform called Vault. This platform allows banks to manage a range of financial systems and products through advanced APIs. Thought Machine has been valued at £1.74b and has raised a total of £398m in seven funding rounds. Investors in the company include Lloyds Banking Group and Morgan Stanley.
Cera – Transferring Healthcare with AI
Cera is a healthcare AI company that uses AI to monitor patients and predict and prevent changes in their condition. They offer home care, telehealth consultations, and prescription services that can be managed through their app. Cera has raised a total of £364m in eight funding rounds and is now Europe’s largest provider of digital-first homecare.
Patsnap – Transforming Intellectual Property Research
Patsnap is an AI company that provides a SaaS platform for accessing information on intellectual property and research and development. Their platform aims to make the innovation process faster and more efficient. Patsnap has raised a total of £251m in funding, with the majority of the investment coming from SoftBank Vision Fund and Vertex Ventures.
Lendable – Streamlining the Loan Approval Process
Lendable is a London-based AI company that has developed a peer-to-peer lending platform. The company uses AI and underwriting automation to approve loans rapidly. Lendable has raised a total of £216m in seven funding rounds, with the majority of the funding coming from its latest round in 2022.
Quantexa – Empowering Data Analytics with AI
Quantexa is a technology company that has developed AI-powered software for data analytics. Their software enables users to analyze large datasets, connect siloed systems, and visualize complex relationships between data points. Quantexa has raised a total of £182m in six funding rounds.
Onfido – Enhancing Identity Verification with AI
Onfido is an AI company that uses facial recognition technology to confirm customer identities with a government ID and a selfie. Onfido’s technology helps companies comply with regulations while preventing financial crime, fraud, and identity theft. Onfido has raised a total of £181m in 12 funding rounds and has been recognized in multiple high-growth lists.
Huma – Revolutionizing Healthcare with AI
Huma, formerly known as Medopad, uses data analysis and AI to allow hospitals to manage health records and clinicians to monitor and share patient data in real-time. Huma has attended multiple accelerators and has received two grants. The company has raised a total of £175m in nine funding rounds.
Wayve – Advancing Autonomous Driving with AI
Wayve is a technology company that is developing AI-powered software for autonomous driving. Their deep learning system is trained using driving data and aims to create a driverless system that can adapt to complex use cases and city driving. Wayve has raised a total of £174m in six funding rounds.
Beamary – Transforming Talent Acquisition with AI
Beamary is an AI company that has developed software for talent acquisition. Their platform allows companies to search, connect with, and message potential hires. Beamary has raised a total of £166m in seven funding rounds and has recently acquired a platform that supports businesses in both workforce growth and retention.
Conclusion
London is a hub for AI-powered startups, with numerous companies raising significant amounts of funding. These companies are revolutionizing industries such as security, banking, healthcare, intellectual property, lending, data analytics, identity verification, autonomous driving, and talent acquisition. The rapid growth of these AI companies reflects the increasing application of AI technology in various sectors and the potential it holds for the future. As AI continues to evolve, we can expect even more groundbreaking innovations from these companies and the AI ecosystem in London.
Sources:
Leave a Reply