Tech Nation has announced its Future Fifty 2025 cohort, featuring 25 high-growth UK scaleups across various sectors, including AI, climatetech, healthtech, and spacetech.
Between them, these firms have raised more than £1.4bn and employ over 2,100 people.
The programme, which was relaunched under Founders Forum Group in 2024, has long been seen as the UK’s flagship initiative for late-stage tech firms.
Nearly a third of Britain’s unicorns, including Revolut, Wise and Darktrace, have cut their teeth in earlier cohorts.
And this year’s intake positively underlines both the depth and diversity of the country’s innovation pipeline.
Among the winning cohort is BioOrbit, a company preparing to manufacture protein crystals in space to create the next generation of cancer treatments.
Its scientists claim microgravity enables purer, more uniform crystals, paving the way for drugs that could be injected rather than delivered intravenously, with trials set to begin as early as 2026.
In construction, Converge.io is pushing forward with AI-powered concrete management.
The firm argues that concrete production – which accounts for eight per cent of global CO₂ emissions – can be decarbonised by using predictive AI models and real-time sensor data to optimise how the material is mixed and used.
It is backed by nearly €20m (£17.3m) of new investment and wants to scale its ConcreteDNA platform worldwide.
On the software front, Granola.ai has developed an AI-powered ‘notepad’ for meetings.
The tool, which automatically transcribes and polishes notes with contextual awareness, has already proved popular with venture capitalists and startup founders.
Fresh from a $43m raise that valued the business at $250m, it is now targeting enterprise adoption.
Other notable names include Nory, which is using AI to help restaurants cut costs and improve efficiency, and Raylo, which has pioneered a new leasing model for tech devices aimed at both consumers and businesses.
Elsewhere, climate tech startup Naked Energy is helping firms reduce their reliance on gas through integrated solar heat and power technology, while deep tech outfit UnlikelyAI is exploring neurosymbolic AI in partnership with Lloyds Banking Group.
Digital health companies also featured strongly, with Simple Online Healthcare offering affordable treatment pathways and Ultromics using AI to detect cardiovascular disease earlier and more accurately.
Britain’s scaling challenge
Tech Nation, which announced the list on Thursday, said 92 per cent of the cohort are already expanding internationally, with hubs in Cambridge, Edinburgh and Glasgow now playing a bigger role alongside London.
Carolyn Dawson, chief executive of Founders Forum Group, called the new intake a “testament to the UK’s dynamic tech ecosystem”. At the same time, HSBC Innovation Banking praised the companies as “driving growth, creating jobs and reinforcing the UK’s position as a global technology leader”.
Yet the bigger question is whether Britain can keep hold of them.
At a recent City of London technology dinner, then-science and then-tech secretary Peter Kyle urged founders to “list here, scale here”.
But the Lord Mayor, Alastair King, warned that Britain risks becoming an “incubator economy”, with promising startups forced abroad to scale.
The funding gap persists, with just 0.007 per cent of UK and Irish pension assets invested in venture capital, according to the BVCA, far below the 0.5 per cent to two per cent typical in North America.
That means the bulk of the rewards from British innovation flow overseas, to US venture firms and foreign state funds.
Future Fifty can shine a light on the UK’s brightest prospects. But without deeper pools of domestic capital, the risk is that the next Revolut or Wise might grow from somewhere else.