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6 scaling UK health-tech start-ups to watch
Health-tech dominates the latest round of scaling start-ups selected for a six-month UK accelerator.
Tech Nation has announced the newest cohort for Upscale, its flagship growth accelerator focused on mid-stage tech companies in the UK.
Upscale targets fast-growing tech companies and aims to speed up their progress. To qualify, companies must be backed by venture capital, having raised a Series A funding round, or be seeing revenue of £1.5m to £5m. Upscale companies must also be growing at a rate of about 10pc month-on-month. Previous participants in the accelerator include banking start-up Monzo and e-commerce disrupter Depop.
This year’s cohort is heavily skewed towards healthtech companies, representing 18 per cent of the total.
The UK is now third in the world for healthtech investment after the US and China, and over the course of 2020 we saw an increase in early stage investment, from $2.27bn in 2019 to $2.32bn in 2020.
Healthtech companies among the fastest-growing tech start-ups include LabGenius, which develops new protein-based drugs using machine learning – lowering the associated costs and risks of drug development; Belfast-based Locate a Locum, which enables temporary healthcare workers to connect; Oxford-based Vitaccess, a platform which quantifies patients’ experiences of treatments and illness; and London-based Blink, a communications platform for Frontline workers.