Food delivery service Deliveroo is just one firm among Tech City UK's 15 selected start-ups expected to soar in the coming years. As part of a new "school year" of Future Fifty companies, Tech City UK selected the businesses that are predicted to be worth more than £1bn.
The selection of Deliveroo, along with companies such as mobile payment firm Powa Technologies and fundraising website Crowdcube, means it has been branded as one of the "fastest growing and most disruptive technology companies" in the UK.
The huge flow of technology start-ups has disrupted the status quo of many industries within the services sector. Crowdcube has changed the way companies raise funds, while Deliveroo, a company that delivers food from a range of establishments, was part of an alternative to the traditional methods of the delivery sector.
From Silicon Valley in the US to the Silicon Roundabout in London, tech startups and venture capital is one of the hottest topics in the City, as are "unicorns", startup firms whose value has exceeded $1bn (£665.2m, €914.5m).
Tech City UK claims the new companies can profit hugely from being selected by the group. Benefiting from expertise, engagement in the community and of course promotion, it hopes to elevate the start-ups.
Music and song app Shazam and Taxi app Hailo are among those graduating from Tech City UK's programme. Although it includes some hugely successful startups, the likes of Hailo, which is struggling to compete with cab giant Uber, shows not every company manages to come out on top.
Tech City UK listed the 15 new start-ups, as shown below.
Brandwatch (Brighton) – data and analytics – a leading enterprise social intelligence company. Established: 2005. Raised $64.73m to date.
Buddi (Rickmansworth) – digital health – a hardware and software provider to remotely monitor health and safety. Established: 2005.
Crowdcube (Exeter) – fintech – a crowdfunding venture for entrepreneurs. Established: 2010. Raised $15.86m to date, over £100m raised by entrepreneurs through the platform.
Deliveroo (London) – ecommerce – a delivery platform bringing high-end food to homes and offices via web and mobile. Established: 2013. Raised $199.59m to date.
FundApps (London) – fintech – a software provider offering a cloud-based regulatory compliance monitoring service. Established: 2010. Monitoring over $1tn in assets on a daily basis.
Iwoca (London) – fintech – a fintech startup offering flexible finance to the millions of SMEs across Europe . Established: 2011. Raised $31.45m to date.
LoopUp (London) – enterprise – a SaaS solution for remote business meetings. Established: 2003.
Lost My Name (London) – ecommerce – marrying technology and publishing to create personalised children's books. Established: 2012. Raised $9.84m to date and sold over one million children's books in the past two years.
MWR InfoSecurity (Basingstoke) – cyber security – A research-led cyber security. Established: 2003. Raised £3m to date.
NewVoiceMedia (Basingstoke) – enterprise – a cloud customer contact platform to deliver a personalised customer service and drive a more effective sales team. Established: 2000. Raised $111.3m to date.
Peak (London) – digital health – a mobile cognitive training platform designed by neuroscientists. Established: 2013. Raised $10m to date, over six million players in less than 12 months of operation.
Powa Technologies (London) – ecommerce – specialists integrating the physical and digital worlds. Established: 2007. Raised $176.7m to date – Series A investment of $76m was the single largest seed investment in a UK technology startup.
Space Ape Games (London) – gaming – award-winning mobile gaming company focuses on high-quality, hand-crafted games. Established: 2012. Raised $11.2m to date.
The Floow Limited (Sheffield) – internet of things – an independent UK based telematics company that supports leading insurers, car manufacturers and fleet operators across the globe. Established: 2012.
Yieldify (London) – data and analytics – ecommerce solutions to turn visitors into customers. Established: 2013. Raised $11.5m to date.