Earlier this week, Tech City UK announced the first thirty companies to join its Upscale. This program is described as a 6-month pilot program that provides some of the fastest growing UK tech companies world class advice from scale coaches, entrepreneurs and operators who have built and sold businesses.
Tech City shared:
“Following a high level of exceptional applications and a competitive judging process, the companies selected represent the emerging digital businesses with the most potential for rapid scale and international growth.”
The company went on to reveal Upscale in numbers:
- 90% of companies incorporated in the last six years
- Average fund raised thus far: $8 million
- Average revenue: $1.8 million
- Average number of employees: 30
- Average growth of sales revenue was 53% month-on-month – over the last three months where indicated as primary business metric
Tech City UK then noted:
“The first intake of businesses reflects the growing diversity of the UK’s digital specialism. Upscale companies also demonstrate the range of sectors being disrupted by data-led innovation, where growth businesses are making sophisticated use of data analytics to help with everything from determining credit risks to choosing what to wear.”
Speaking about joining Upscale, Seedrs’ Jeff Lynn commented:
“I’m excited about getting people together to share experiences, especially when they are at a similar stage and have the same levels of ambition and drive to growth.”
Seedrs explained its platform’s purpose:
“We allow anyone in Europe to invest as little as €/£10 into businesses they believe in. And we allow entrepreneurial European businesses from seed-stage to publicly-traded – to raise capital from friends, family, angels, institutions and the crowds. Over €2 million per month is invested through Seedrs on average, and we complete more deals per month than any other European equity crowdfunding platform.”
Check out the list of companies that joined Upscale:
- E-commerce: Depop, Metail, Pact Coffee, Snap Fashion, Thread, Bloom & Wild
- Fintech: Seedrs, Elliptic, Growth Street, Property Partner, Sybenetix, Receipt Bank
- Data & Analytics: Growth Intel, Import.io, Improbable, Ometria, EDITED
- Edtech: Administrate, Kano, Lingvist, Show My Homework
- Hardware & IoT: Cocoon, M Squared Lasers, SAM Labs
- Healthtech and biology: Touch Surgery, Zesty, Synthace
- Other: Global App Testing, Wakelet, Appear Here
See the full details about Upscale below.
