Magnificent seven Cambridge deep tech companies among UK growth stars
Seven Cambridge deep technology businesses feature in a UK pantheon of the top 100 fastest growing private companies since 2016.
The report is from Beauhurst and commissioned by Cambridge online investment platform SyndicateRoom and is the third annual such study.
Business Weekly can reveal that Cambridge’s magnificent seven line up as follows: CMR Surgical, the robotics systems innovator is ranked 19th with growth rate of 21.8 per cent, followed in 24th by cyber security aces Darktrace (19), rare disease specialist Healx in 33rd (14.9), audio technology company Audio Analytic in 55th (11.5), the eponymous Cambridge Quantum Computing in 59th (10.8), Cydar – a cloud computer vision and machine learning software gamechanger – in 72nd (9.8) and FlexTronics company PragmatIC Printing in 77th (9.5).
2019’s fastest-growing company is Bulb – a single-tariff energy supplier whose electricity comes from 100 per cent renewable sources. Topping the list for the second year running, Bulb has increased its valuation by a whopping multiple of 318x since 2016.
FinTech challengers Revolut and Nutmeg secured the second and third place positions, having grown their valuations by 239x and 135x, respectively.
The report uncovered an emerging trend: the number of fast-growing companies founded by women has doubled since 2017, rising from seven to 14.
The research also indicated that London saw a decline as the home of fast-growing startups in 2019: 60 of the Top 100 companies in this year’s report are based in the capital, compared to 71 just three years prior.
Graham Schwikkard, CEO at SyndicateRoom said: “The East of England is on the rise. It’s now home to 12 of the UK’s fastest-growing companies, compared to just five in 2017. We find that seven of the Top 100 companies are based in Cambridge. The university city has built an impressive cluster of medical and deep-technology companies.”