London is a buzzing hub for blockchain innovation, with many startups leading the way in this exciting field. These companies are creating new products and finding fresh uses for existing tech. Whether they’re big names or smaller players, each one is worth keeping an eye on. Let’s dive into the top blockchain startups in London that you should watch in 2024.

Key Takeaways

• London is home to many top blockchain startups.
• These companies are innovating in various ways.
• Both big and small firms are making waves.
• The list includes a mix of well-known and emerging names.
• These startups are worth watching in 2024.

1. Blockchain.com

Blockchain.com is one of the most successful UK blockchain technology companies ever. It is a full-stack crypto services platform that allows users to hold, trade, and manage cryptocurrency assets. The company works with B2B and B2C clients to develop financial services standards and infrastructure for cryptocurrencies.

When it comes to funding, Blockchain.com’s story is pretty impressive. They’ve scooped up a sizable £356 million from investors – Silicon Valley, Wall Street, London, you name it. And get this: in 2021, they pulled in a whopping £218 million in just one funding round. They recently wrapped up a Series E funding round that brought in a cool $110 million. It’s clear that Blockchain.com isn’t just playing the game – they’re setting the pace.

Blockchain.com was founded in 2014 and has been incredibly fortunate in the blockchain space. The startup was one of the pioneers in the industry and developed infrastructure for the Bitcoin community. Later, it established the Blockchain Explorer, which allows individuals to examine blockchain transactions and build on Bitcoin through their APIs.

Blockchain.com is a key player in the blockchain industry, consistently pushing the boundaries of what’s possible.

2. Copper

Copper is a leading digital asset technology company based in London. It focuses on helping institutional investors safely acquire, trade, and store cryptocurrencies and other digital assets. Copper has raised a total funding of $791m over 7 rounds from 16 investors and is valued at $2b.

Copper’s multi-award-winning custody solution uses advanced Multi-Party Computation (MPC) technology. This ensures the highest level of security by making sure no single party holds the private keys. Their ClearLoop product secures trades and allows them to be instantly settled without needing to pre-fund exchanges.

Key Features

• Multi-Party Computation (MPC) technology: Enhances security by distributing private key control.
• ClearLoop product: Enables instant trade settlement without pre-funding.

Copper is revolutionizing the way institutional investors handle digital assets, making it safer and more efficient.

3. Elliptic

Elliptic is a London-based startup that offers blockchain analytics, certifications, regulatory compliance, and financial management services. It was ranked #1 in Deloitte’s Technology Fast 50 for 2023, highlighting its rapid growth and impact in the blockchain security space.

Founded in 2013, Elliptic began as a simple Bitcoin storage service to protect private keys from hacks and thefts. Over time, it evolved into a full-fledged blockchain analysis provider, working with some of the largest financial institutions to protect them from financial crime in crypto assets.

The company helps investigate illegal Bitcoin transactions by tracing them through all entities in the chain. It maintains a database of millions of Bitcoin addresses to detect suspicious cryptocurrency activity. One area of Elliptic’s research and development focuses on responding to ransomware attacks. The team has created software that can identify such attacks and trace the ransom received during them.

Elliptic is the only blockchain analytics provider recognized by the World Economic Forum as a Technology Pioneer. It currently manages 66% of all crypto volume exchanges in the world. The startup raised $5 million in seed funding in 2015, followed by $23 million in Series B funding in 2019. Their most recent funding round, a Series C, brought in an impressive $60 million.

4. Zamna

Zamna is one of the leading blockchain startups in the UK for 2024. They are revolutionizing the industry with innovative solutions, especially in the field of secure identity data management. Their mission is to ensure that your identity information flows smoothly and securely, particularly when traveling around the globe.

Zamna uses blockchain technology to create digital IDs that can be shared securely across different platforms. This means that when you’re traveling from one country to another, you don’t need to show your physical passport. This is the kind of game-changing innovation that Zamna is working on.

They are also applying this concept to the healthcare sector. Imagine having your health status digitally verified without worrying about your information being mishandled or leaked.

Zamna has recently raised $5 million and started collaborating with Emirates and the UAE’s General Directorate of Residency and Foreigners Affairs (GDRFA) to enhance the check-in and transit process for travelers passing through Emirates airports, aiming to provide a smoother and more efficient experience.

5. Adhara

Adhara collaborates mainly with large corporations and financial institutions to manage their liquidity and international payments for decentralized financial networks. They also offer solutions for multi-currency payment processing, FX, and international payments using tokenized money over smart contracts.

Adhara was recognized as a Technology Pioneer by the World Economic Forum in 2021. Additionally, their CEO was named one of the top 25 blockchain technology CEOs of 2020 by Technology Innovators Magazine.

The company recently secured $7.5 million in Series A funding from Yabeo, FOMCAP, and other investors. Their total equity fundraising is close to $14 million. In 2023, Adhara launched its Liquidity platform, which is already being used by several decentralized financial networks.

6. Argo Blockchain

Argo Blockchain stands out as the first and only cryptocurrency mining company to be listed on the London Stock Exchange. This public listing marks a significant milestone for the company, which focuses on large-scale cryptocurrency mining operations.

Argo Blockchain operates state-of-the-art mining facilities equipped with cutting-edge, energy-efficient machines. Their goal is to offer affordable crypto mining services to attract a broad range of consumers. Notably, Argo Blockchain is one of the few blockchain companies in the UK to achieve a ‘climate positive’ status for Scope 1, 2, and 3 greenhouse gas emissions.

Funding and Financials

The company has raised a total of $24.4 million in equity funding. In July 2023, Argo Blockchain announced a private placement and public sale to raise an additional $10 million. The funds were used to pay down debt and potentially expand their operations.

Argo Blockchain’s commitment to sustainability and innovation makes it a key player in the blockchain industry.

Key Highlights

• First cryptocurrency mining company listed on the London Stock Exchange
• State-of-the-art, energy-efficient mining facilities
• Climate positive for Scope 1, 2, and 3 greenhouse gas emissions
• Raised $24.4 million in equity funding
• Additional $10 million raised in July 2023 for debt repayment and expansion

7. Travala.com

Travala.com is a standout among UK blockchain startups, revolutionizing the travel booking industry. Launched in 2017, this platform allows users to book over 3 million travel products worldwide using their favorite cryptocurrencies. By leveraging blockchain technology, Travala offers a seamless and secure booking experience.

Travala covers more than 2,200,000 properties across 90,124 destinations in 230 countries. Travelers can enjoy prices up to 40% lower than traditional booking platforms, making it a cost-effective choice for savvy travelers.

What truly sets Travala apart is its commitment to accessibility and inclusivity. The platform uses decentralized blockchain power to facilitate secure, peer-to-peer transactions, eliminating the need for traditional booking hassles.

Travala.com is not just about technology for technology’s sake; it’s about making real, tangible improvements in everyday life.

8. Cudos

Cudos is a next-generation cloud platform created by Cudo. It connects people who need cloud computing with those who have extra hardware to share. This platform is powered by the CUDOS Token, which helps Cudo offer computing power at a much lower cost—up to ten times cheaper.

With the growing need for computing power in many areas like video rendering and medical research, Cudos provides a solution by using outside hardware resources. But there’s more to Cudos than just sharing computing power. They are also building a world of decentralized apps (dApps). These apps range from gaming platforms that aren’t controlled by one company to safe places for storing digital items.

London emerges as a blockchain tech hub with startups driving innovation and investment. Digital currencies like Bitcoin and Ethereum gain traction, shaping the city’s future in fintech.

9. Fetch

Fetch is a standout in the blockchain space, especially in London. This startup focuses on creating a decentralized digital world where autonomous agents can perform tasks for users. London emerges as a blockchain startup hub with government support, investment influx, and community collaboration.

Key Features

• Autonomous Agents: These agents can perform tasks without human intervention, making processes more efficient.
• Decentralized Network: Ensures that data and operations are secure and transparent.
• Scalability: The platform is designed to handle a large number of transactions simultaneously.

Recent Achievements

Fetch has made significant strides in the industry:

Date	Event	Details
Jul 15, 2024	Series A Funding	Raised $6M
Jun 19, 2024	Venture Round	Amount undisclosed
May 10, 2024	Seed Round	Raised $2M

Fetch is paving the way for a future where AI integration and DeFi platforms are commonplace, despite regulatory challenges.

Future Prospects

Fetch aims to integrate AI to enhance the capabilities of its autonomous agents. The startup is also exploring opportunities in DeFi platforms, which could revolutionize the financial sector. Despite facing regulatory challenges, Fetch remains optimistic about its future in the blockchain industry.

10. SETL

SETL is a standout startup in the blockchain world, known for its fast and secure solutions in financial settlements, asset management, and payments. It’s not just about speed, though that’s a big part of it, with the platform handling up to 30,000 transactions every second. This means things get done fast, without skimping on the security you’d expect from traditional banks. Plus, its system is tough – it keeps running smoothly even if some parts go offline. Since its inception in 2015, SETL has rapidly grown its clientele and continues to draw significant media attention. Esteemed organizations like Citibank, Deloitte, and Orange place their trust in SETL, which has successfully raised approximately $39 million in funding.

In a notable move in 2024, SETL launched an ongoing blockchain test network through its LedgerSwarm software for the Regulated Liability Network (RLN). It is an initiative that unifies various regulated monetary forms – including tokenized deposits, central bank digital currencies, and regulated stablecoins – with tokenized assets.

Conclusion

London is quickly becoming a hub for blockchain innovation, with a variety of startups leading the charge. These companies are not only pushing the boundaries of technology but also offering practical solutions to real-world problems. From financial services to digital security, the applications of blockchain are vast and growing. As we move forward, keeping an eye on these startups could provide valuable insights into the future of technology. Whether you’re an investor, a tech enthusiast, or a business looking to integrate blockchain, London’s vibrant ecosystem has something to offer for everyone.

Frequently Asked Questions

What is blockchain technology?

Blockchain technology is a way to record information in a way that makes it hard to change or hack. It is a digital ledger of transactions that is duplicated and distributed across a network of computer systems.

Why is London a hub for blockchain startups?

London is a hub for blockchain startups because it has a strong financial sector, a large pool of tech talent, and supportive government policies. It is also home to many investors who are interested in new technologies.

What does Blockchain.com do?

Blockchain.com is a company that offers a variety of services related to cryptocurrencies, including a digital wallet, an exchange, and data about the crypto market.

How does Copper help in the blockchain industry?

Copper provides secure infrastructure for storing and trading digital assets. They offer services like custody, prime brokerage, and settlement to ensure the safety of digital assets.

What is Elliptic known for?

Elliptic is known for its blockchain analytics and financial crime compliance solutions. They help businesses understand and manage risks related to cryptocurrencies.

Why should I watch these blockchain startups?

You should watch these blockchain startups because they are innovating in the industry and have the potential to make significant impacts on how blockchain technology is used in the future.

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