Despite losing up to £200 million in market value after Piers Morgan walked away from Good Morning Britain, ITV is looking to champion UK business with plans to invest £15 million in up to five consumer startups this year through its new venture capital arm, ITV AdVentures.
Keen to unearth the next Spotify or Cazoo, ITV AdVentures has suggested it could add to its portfolio with another investment of £15 million in 2022. An attractive option for many of the startups in the country, numerous businesses are gearing up for another year of growth. Through the highs and lows of Brexit and multiple disturbances in recent times, a number of startups are aiming to disrupt their respective industries and continue to drive economic growth.
The different types of businesses that could potentially catch the eye of ITV AdVentures are vast too. With numerous startups predicted to register huge success in the coming months and years ahead, here is a look at some potential candidates.
Described by some as the rival to Zoom, Hopin is a London-based live online events platform with a seemingly bright future ahead of it. Founded by Johnny Boufarhat in 2019, the business has received £141 million worth of funding from the likes of Accel, Seedcamp, Northzone, Salesforce Ventures, and DFJ Growth. In the same way gamers are enjoying new technology and going on an adventure with a variety of slot games, Hopin is expected to go on a similar journey with its impressive software and its powerful communication tools. The fact the business received a $2.1 billion valuation only eight months after launch speaks volumes.
An e-commerce company that purchases, operates and scales Amazon businesses is another startup making positive noises at the moment. Founded by twins Alessio and Riccardo Bruni, the promising business has received £50 million as the brothers aim to grow the brand further and expose the name to a wider audience.
Backed by giants such as Goldman Sachs, Lendable is a digital lender started by two young graduates who were in their mid-20s in 2014. Aiming to fast track applications and offer more competitive rates compared to banks, the business is said to approve a new loan every 30 seconds in the country. Currently valued at around £1 billion, expansion in the US market is expected for this bright business.
Producers of chewable supplements and vitamins, Yumi Nutrition has shown impressive revenue growth since coming to the fore in 2017. Based in Manchester and showing clear plans for expansion, this health and wellbeing brand claims to have sold its products in over 100 countries. The company’s CEO Sebastien Vanderlinden was named Young Entrepreneur of the Year for 2020 at the Great British Entrepreneur Awards.
Giving users the ability to transfer money internationally in an easy way, TransferGo’s online payment system is expected to pull in further crowds in the near future. The London-based fintech firm currently attracts 2.5 million customers worldwide and has shown 117% growth in revenues in the last year. TransferGo’s founder Daumantas Dvilinskas was just 24 when he started the business.
Bristol-based Graphcore is shaking up its respective industry at the moment. After creating a new processor specifically designed for AI, the company has shipped tens of thousands of its microchips around the world. Founded in 2016, the company has also landed big deals with huge names such as Dell and Microsoft.
Other startups expected to kick on further in 2021 which could potentially interest ITV AdVentures are Karma Kitchen, Gymshark, Uncapped, Depop, and HungryPanda.