Top 15 UK Tech Startups in 2025
There’s no denying it — UK tech startups have seen historic growth in recent years, especially in 2021, which saw £28.9b raised.
However, since the dizzy heights of 2021, deals are down significantly. In 2024, the value of investments into UK tech companies plummeted by 36% to £18.5b, while 2025 (so far) has seen just £6.82b in equity raised. All of this is amidst a broader contraction in liquidity, as we reported in The Deal.
The number of new tech incorporations has also tumbled, with 1,289 tech startups incorporated in 2020 versus just 524 in 2024.
Still, there are green shoots in the startup scene to take note of. Whilst overall tech investment is down, seed and venture stage tech startups in the UK saw higher investment figures than 2021’s £4.67b, with £8.58b raised by early-stage tech businesses in 2024.
The UK’s tech startup scene at a glance
The UK has a particularly large number of high-growth* software-as-a-service (SaaS) startups (3,350), as well as those operating in artificial intelligence (1,881) and fintech (1,074).
And despite taking on the double incursion of Brexit and the COVID-19 pandemic, the UK remains a top startup hub according to Tech Nation’s 2024 report — with London a major contributor — and remains the biggest tech ecosystem in Europe.
Startups have access to leading venture capital funds, alongside some of the most active angel investors in the world. Tech entrepreneurs in the UK also benefit from an excellent network of accelerator programmes and grant schemes aimed at small businesses.
Of the UK’s tech startups, we identified 715 (7%) as academic spinouts, whilst 2,800 (27%) have attended at least one accelerator. Meanwhile, 903 UK-based tech startups (9%) have been awarded patents for their technologies.
So, with 2025 just around the corner, which UK tech startups should you be watching?
*Defined in this article by Seed or Venture-stage companies with at least one round of equity fundraising.
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Ranking the UK’s top tech startups
There are many ways to measure startup success. Here, we’ve chosen to rank the top 15 early-stage UK tech companies by the amount of equity investment they’ve received to date.
They won’t boast billion-dollar unicorn valuations like Gymshark or Revolut, nor will they have expanded to multiple offices around the world. Instead, this list reveals some of the most promising businesses in the UK that are still in the early stages of their growth journey.
To qualify, each of these businesses must:
- Be headquartered in the UK
- Active on Companies House
- Currently operating at the Seed or Venture stages of evolution
- Have received at least one round of equity fundraising
Companies that are not predominantly tech-based, such as news organisations and events companies, have not been included in this list.
It’s clear that investors see bright futures for these tech companies, having provided them with the capital to realise their potential. So, if you work with ambitious tech startups and scaleups, then these 15 companies should all be on your radar.
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Top 15 UK Tech Startups
GoFibre
Industry: Mobile, internet and wireless hardware
Location: Edinburgh
Year incorporated: 2017
Total amount raised: £177m
GoFibre provides full fibre and wireless broadband infrastructure, primarily targeting underserved rural communities across the UK.
Since incorporation, the company has secured five fundraisings totalling £177m, including a £164m investment in January 2022 backed by British Strategic Investment Fund I and II.
It is worth noting that three of these five fundraisings include debt raises, and in December 2023, the business was acquired by asset management firm Gresham House.
Zapp
Industry: Food delivery
Location: London
Year incorporated: 2020
Total amount raised: £186m
Part of the rapid online grocery delivery revolution, Zapp is a mobile app that promises to deliver groceries, snacks, and other essential products in 20 minutes or less.
Zapp’s key differentiator is that, unlike other grocery delivery companies like Getir and Gorillas, Zapp is available 24/7. Zapp is expanding rapidly and now operates in London, Manchester, Cambridge, Bristol, Paris, Rotterdam, and Amsterdam.
Zapp was launched in November 2020 by Joe Falter, along with his co-founder Navid Hadzaad, a former product leader at Amazon’s Seattle HQ. Since then, the company has secured £186m in funding, with investors including Lightspeed, Atomico, 468 Capital and Burda.
Juvenescence
Industry: Biotech
Location: Isle of Man
Year incorporated: 2018
Total amount raised: £186m
Juvenescence is a biotech company focused on developing therapeutics that aim to extend healthy human lifespan.
Operating across biotechnology, clinical research, and AI-enabled drug discovery, the company has raised £186m across four fundraisings. Recent backers include M42 and Foresite Capital, with a £57.4m round completed in April 2025.
In June 2025, Juvenescence acquired US-based AI company Ro5, expanding its portfolio.
Quell Therapeutics
Industry: Biotech
Location: London
Year incorporated: 2019
Total amount raised: £213m
Quell Therapeutics develops regulatory T cell (Treg) therapies for treating autoimmune diseases and preventing transplant rejection.
A spinout from King’s College London and University College London, the company has secured a total of £213m in equity funding across five rounds, with backers including Syncona, AstraZeneca, Jeito Capital, and Point72.
In addition to receiving an R&D grant from AstraZeneca in 2023, Quell reported turnover of £9.16m in its latest financials, and has a post-money valuation of £285m.
ElevenLabs
Industry: Artificial intelligence
Location: Westminster
Year incorporated: 2022
Total amount raised: £224m
ElevenLabs develops AI-powered tools for translating spoken content across languages, with applications in media, gaming, and enterprise software.
The company has raised £224m across four funding rounds, with participation from Andreessen Horowitz, Sequoia Capital, Salesforce Ventures, and Deutsche Telekom. In 2024, ElevenLabs joined the Disney Accelerator and later acquired the voice technology firm Omnivore.
Its latest fundraising was in January 2025, when ElevenLabs raised £145m.
Exohood Labs
Industry: Artificial intelligence
Location: Tower Hamlets
Year incorporated: 2023
Total amount raised: £232m
Exohood Labs provides multidisciplinary R&D services across artificial intelligence, blockchain, renewable energy, and quantum computing. The company has raised £232m in equity funding since incorporation, through two rounds backed by Livsquare Capital, which now holds a 20% stake.
Its activities span clinical diagnostics, energy systems, robotics, and space infrastructure, serving clients across the private, public, and third sectors.
Spur Therapeutics
Industry: Pharmaceuticals
Location: Stevenage
Year incorporated: 2020
Total amount raised: £233m
Spur Therapeutics develops and commercialises gene therapies for treating or preventing bleeding disorders.
A spinout from University College London, the company has raised £233m across seven equity rounds, with early backing from Syncona Partners, AlbionVC, and late-stage support from Novo Holdings and Wellington Management. The company has also received five Innovate UK grants totalling £2.45m.
In August 2020, Spur Therapeutics listed on NASDAQ under the ticker FRLN, raising $159m at IPO.
MeiraGTx
Industry: Genomics
Location: Hackney
Year incorporated: 2015
Total amount raised: £233m
MeiraGTx develops gene therapies for both inherited and acquired disorders, with a focus on technologies that enable the manipulation of cellular signalling.
Another spinout from University College London, the company has raised £233m across eight equity rounds, with investors including AlbionVC, Perceptive Advisors, Sanofi, and Essex Bio-Technology. The company also underwent an IPO on NASDAQ in 2018, generating $75m at listing.
MeiraGTx has also made one acquisition — US-based gene therapy firm Vector Neurosciences.
COMPASS Pathways
Industry: Pharmaceuticals
Location: Westminster
Year incorporated: 2020
Total amount raised: £237m
COMPASS Pathways develops psilocybin-based drugs for the treatment of mental health disorders, including depression.
The company has raised £237m across seven equity fundraisings, with participation from investors such as RA Capital, Founders Fund, ATAI Life Sciences, and Vivo Capital.
It listed on NASDAQ in September 2020 under the ticker CMPS, raising $147m at IPO.
As of its latest fundraising, COMPASS Pathways’ latest post-money valuation is £259m.
Apollo Therapeutics
Industry: Pharmaceuticals
Location: Cambridge
Year incorporated: 2021
Total amount raised: £248m
Apollo Therapeutics develops medical therapies targeting cancer, inflammatory conditions, and rare diseases.
The company, which was spun out of the University of Cambridge and University College London in 2016, and subsequently incorporated in 2021. Since then, Apollo Therapeutics has raised £248m across three equity fundraisings, with investors including M&G Investments, Patient Square Capital, and Johnson & Johnson Innovation.
The company reported £4.86m in turnover for 2024 and spent over £16m on R&D during the same period.
CellCentric
Industry: Pharmaceuticals
Location: Uttlesford
Year incorporated: 2003
Total amount raised: £248m
CellCentric is a University of Cambridge spinout developing cancer therapeutics targeting epigenetic regulation.
Another pharmaceutical company making our top 15 tech startups, CellCentric has raised £248m across 19 equity rounds, with recent backers including Avego Bioscience Capital, RA Capital, and BrightEdge.
It has also received four Innovate UK grants totalling £2.45m and has been awarded six patents across 15 authorities globally. The company was acquired by 5Y Capital in 2016.
Verdiva Bio
Industry: Pharmaceuticals
Location: Guildford
Year incorporated: 2024
Total amount raised: £335m
Verdiva Bio develops cardiometabolic drugs targeting obesity and related conditions. The company raised £335m in a single equity round in October 2024, backed by RA Capital, OrbiMed, General Atlantic, Forbion Capital Partners, and Lilly Asia Ventures.
Incorporated in 2024, the founding team includes former senior figures from Gyroscope Therapeutics and MiroBio, both of which were acquired by a large pharmaceutical firm.
Nothing
Industry: Consumer electronics hardware
Location: Camden
Year incorporated: 2024
Total amount raised: £338m
Nothing (also trading as Nothing Technology) develops smart consumer electronic products, such as mobile phones and earphones.
The company has raised £338m to date, including a £30m loan fundraising from the Small Business Bank. Nothing’s most recent equity round raised £75.9m to fund international expansion into the US and grow its existing product and technology portfolio.
Isomorphic Labs
Industry: Biotech
Location: Tower Hamlets
Year incorporated: 2021
Total amount raised: £464m
A new entry to this list, Isomorphic Labs is developing a drug discovery platform that uses AI models to design new pharmaceuticals.
Spun out from Google in 2021, the company has raised £464m so far through a single funding round in 2025, backed by Alphabet, GV (Google Ventures), and Thrive Capital. In the same year, it recorded £49.1m in R&D expenditure and employed 71 staff.
Due to its high-profile spinout status and large investment activity, Isomorphic Labs has been featured on several Beauhurst high-growth features, including the top UK companies backed by corporate funds, London’s top startups, and The Artificial Intelligence Top 100 UK.
Bicycle Therapeutics
Industry: Pharmaceuticals
Location: South Cambridgeshire
Year incorporated: 2017
Total amount raised: £673m
Topping our list of UK tech startups is Bicycle Therapeutics, a pharmaceuticals startup that develops medicines based on bicyclic peptides for the treatment of diseases, including cancer.
A spinout from the University of Cambridge, the company has raised £673m across seven equity fundraisings, alongside six Innovate UK grants totalling £5.25m. In 2019, it listed on NASDAQ under the ticker BCYC, raising $60.7m at IPO.
The company reported £28.2m in turnover in 2024 and spent £113.8m on R&D, with backing from investors such as Atlas Venture, Novartis Bioventures, and SR One. It holds granted patents and remains a majority institutionally owned entity.
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