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Since OpenAI launched ChatGPT in 2022, the artificial intelligence market has skyrocketed to a total value of over $240 billion, with thousands of AI companies being created. Big Tech companies are making great leaps in the space, coming up with their own tools, while small businesses are leveraging AI to scale up faster.
But as US-based tech giants like OpenAI, Google, and Microsoft continue to dominate the artificial intelligence race, the UK is catching up with a fast-growing number of startups developing their own proprietary AI models. According to recent data, the UK artificial intelligence market is worth about £18 billion and has over 2,300 active AI companies.
In the UK, artificial intelligence is only second to the software-as-a-service (SaaS) industry when it comes to funding, and it’s easy to see why. Sectors like finance, cybersecurity, healthcare, and manufacturing are increasingly adopting AI in the country.
Even niche industries like gaming are heavily relying on AI. Whether through game development or chatbots, video game studios and casino operators are investing in AI and reaping big. For instance, UK online casinos are using AI to personalize a player’s gaming experience and offer top-notch customer support, making them competitive.
So, if you’ve been wondering which AI startups are attracting big money in terms of equity raised, here’s your top five list as of mid-2025.
- Wayve
Wayve was among the first unicorn AI startups in the UK, getting funding of over $1 billion for its self-driving artificial intelligence technology. The company is based in London and had its breakthrough in February 2024 when Softbank Group, NVIDIA, Eclipse Ventures and M12 raised £822 million.
The company had a pre-money valuation of £1.40 billion and achieved a post-money valuation of £2.20 billion. An additional £3.36 million came as grants from the Center for Connected and Autonomous Vehicles (CCAV) and Innovate UK.
- OneTrust
OneTrust was founded in 2016 by Kabir Barday and is a software company focused on governance, risk and compliance (GRC) strategies. They also specialize in privacy and security, providing frameworks for businesses to navigate regulatory requirements in various jurisdictions and sectors, including the development of ethical AI tools.
The company was originally based in London before it raised close to £700 million, acquired four companies, and later moved to the US. OneTrust is one of the leading software companies as featured on high-growth startups lists like the Deloitte Fast 50, RegTech 100 and ProcureTech 100.
- Graphcore
Like NVIDIA, Graphcore is in the semiconductor industry, manufacturing Intelligence Processing Unit (IPU) chips that are used to accelerate machine learning functions. The London-based startup is also another company having unicorn status after a successful raise of eight funding rounds.
After some years, Graphcore started experiencing challenges and was acquired by Softbank Group for £462 million. The company remains trading by the same name and has partnered with tech giants Dell and Microsoft, and has offices across the US, in Seoul, Oslo, London and Beijing.
- Cera
Cera is a tech company using machine learning to provide homecare services, telehealth consultations and prescription functions to users through a mobile app. Patients can easily schedule appointments with nurses or caregivers on demand via the app.
In total, Cera has managed to raise £479 million across eight rounds of fundraising. Some of the players who added £81.3 million to their funding basket in August 2022 were Guinness Partners, 8090 Partners and Evolve Healthcare Partners.
- Isomorphic Labs
Focusing on healthcare through pharmaceuticals, Isomorphic Labs is leveraging AI to fast-track the drug discovery process. Through advanced machine learning, the company is able to identify responsive drug candidates across different diseases better and faster compared to traditional lab experiments.
Isomorphic Labs was a part of Google and has only had one massive fundraising round, pulling in £464 million. The contributors were Google Ventures, Thrive Capital and Alphabet.
The Future of AI Startups in the UK
With over 2,000 active AI startups and some doing quite well, like the ones listed above, it’s fair to say that the UK is slowly becoming a global leader in artificial intelligence. The country also has supportive frameworks and offers a thriving AI ecosystem where startups can get funding, grants and highly skilled labour.
Finally, as AI leaders like OpenAI and Google continue to have a presence in the UK, more opportunities in terms of applications of artificial intelligence will be created in the country.
