Global Switch leads Zirra's top UK startups list; valuation at $5.8B
The moment after the British parliament ratified Brexit, it seemed that the separation of the UK from Europe was a done deal. Fortunately, Great Britain has a thriving startup scene that still attracts immigrants from all over the world and is starting to create a living ecosystem for giant global tech services. Some of those startups surpassed the clutter with a higher valuation and market share, some of them do it all of a sudden after years of being in the dark. Companies such as Deliveroo, Global Switch, and Anaplan have been acknowledged as tech giants only a few months ago, due to larger than ever financial rounds.
Zirra, a startup that delves in the AI and machine learning technology space, has compiled a list of 10 highest valued startups in the UK using 85 different data sources. In the list, the startup has estimated the valuation of the startups, marked success and risk factors and rated the leadership of each company.
Here are some key insights picked from the report:
UK tech has a sense of style and fashion
Two of the ten companies are offering high-end consumer products: Deliveroo is branded as a delivery service for restaurants meals, including some chef restaurants, and Farfetch runs an online marketplace that connects high-end fashion retailers with customers.
Only two of ten UK unicorns are in financial services
Even though the UK is a pioneer in technology based financial services, Funding Circle, a peer-to-peer service that matches retail investors with small business and TransferWise, a peer-to-peer money transfer service provide financial services.
US is not a target destination
A big chunk from the list of companies avoid being active in the US, where the market is already crowded. Deliveroo, for instance, wants to take over Europe, the Middle East, and Southeast Asia. Global Switch, a cloud computing service, partnered with Chinese investors to expand into China and new Asian markets.
Emergence of immigrant players
In nine out of the ten UK startups, there is at least one immigrant or a child born to first-generation immigrants in the founding team. Of those nine, seven companies have at least one immigrant in the founding team from the following countries: India, Estonia, Portugal, France, New Zealand, and the US.