Top 10 Digital Disruptors

Shannon Lewis
- Top 10 - Jan 14, 2020

Business Chief Europe takes a look at the main industries poised to become digital disruptors, according to Forbes, and finds the top ten European start-ups and companies in these industries:


Founded in Munich, Germany in 2015, ICAROS combines fitness training with virtual reality (VR) to create a product that blends tech and exercise. Its VR systems provide a workout simulation for users to train their body from the comfort of their homes and gamify their gym-going experience. The machines include simulations for flying and deep-sea diving. Its software can be found in 200 gyms and entertainment centres across 40 countries. Forbes says of ICAROS that it “use[s] virtual reality to make fitness addictive.” It makes EU-Startups’ 2019 list of 10 European start-ups to look out for, having raised USD$3.5mn in funding.

HQ: Munich, Germany

Revenue: Raised $3.5mn 

Number of employees: 50



9. OneVisage

A cybersecurity company, OneVisage develops facial recognition software with the goal of creating safe security authentication platforms. Created by 3D computer vision experts, banking software specialists, and executive managers in 2013, its software development kits (SDK) are designed with complete data privacy in mind, following GDPR and PSD2 regulations. Its facial recognition technology is designed to replace passwords and pin numbers, a safer authentication alternative that can be installed on any consumer mobile phone. According to Silicon Canal, it is a top 10 European facial recognition start-up to watch out for, with almost $400,000 in funding. 

HQ: Lausanne, Switzerland

Revenue: USD$1mn

Number of employees: 8



8. Banuba

Originally an artificial intelligence lab focused on combining virtual and physical reality, Banuba currently provides augmented reality (AR) experiences through mobile camera capabilities, from face filters to green screen capabilities. Founded in 2016, Banuba operates out of Minsk, Belarus. Cutting-edge, its technology works on 98% of mobile phones, functional in low lighting and awkward angles, and able to identify up to three faces. According to the company website, Banuba has 31 patent applications to its name, with one of the avenues under exploration being eye tracking. According to Silicon Canal, it has secured $12mn in funding.

HQ: Minsk, Belarus

Revenue: USD$500,000

Number of employees: 100



7. Oxford VR

Founded in Oxford, UK, Oxford VR provides immersive virtual reality therapy as part of a technology-based psychological treatment for phobias, and depression and anxiety disorders. It allows patients to overcome psychological difficulties while in a safe setting, providing automated treatment and virtual coaches. A spinout of the University of Oxford, Oxford VR, it was founded in 2016. It makes EU-Startup’s “Ten European VR Startups to look out for in 2019”, with $4.1mn raised in funding. Its clinical acrophobia (fear of heights) program was a finalist in the 2019 VR Awards in the VR Healthcare of the Year category. 

HQ: Oxford, UK

Revenue: $1mn

Number of employees: 117




6. loqr

With headquarters in Braga, Portugal, Loqr was first founded in 2015. B2B-oriented, the loqr Unified Identity Management Platform is integrates and centralises customer-focused digital identity solutions, from verification to engagement to identity prover. It frames itself as a “one-stop shop” for all regulation-approved identity needs. It was awarded Best Digital Transformation Idea at the 2018 Portugal Digital Awards. Silicon Canals identifies loqr as one of the top ten European facial recognition start-ups to look out for, with $1.3mn secured for funding. According to the company website, uses for the technology range from banking and financial services to online gambling. 

HQ: Braga, Portugal 

Revenue: $22K

Number of employees: 35+



5. Immersive VR Education

Founded in 2014, Immersive VR Education creates virtual reality platforms that can be used for both educational and corporate training purposes, with the goal of providing an informative, immersive experience. Its virtual reality collaboration and creation tool, ENGAGE, can be used to create any virtual environment possible, from recreating an actual workspace to allowing students to more creative educational options like recreating Hubble Space Telescope missions. Based in Waterford, Ireland, it was named best digital VR/AR product at the GESS Education Awards Dubai. It is on EU-Startups 10 European VR start-ups to watch out for in 2019, with almost $1.3mn raised in funding.

HQ: Waterford, Ireland

Revenue: $3.4mn

Number of employees: 27




4. Giraffe360

With its initial prototype created in 2016, Giraffe360 uses 3D VR technology to allow people to give virtual real estate tours. Originally founded in Latvia, it moved its headquarters to London, UK earlier this year, after a successful $1.2mn funding round-up. It developed what is now the highest quality presentation technology in the world, standing at 270-megapixel resolution. Its new Model 3 camera uses automation to scan floor plans and photograph an entire 2-bedroom property in under 20 minutes. With a total $1.9mn raised in funding, EU-Startups calls it one of the top 10 European VR start-ups to look out for in 2019.

HQ: London, UK 

Revenue: $1MN

Number of employees: 22




3. Colendi

Based in Zug, Switzerland Colendi is a fintech start-up that uses blockchain technology to create a global financial passport for users. Through this technology, it both gives more micro-financing access to people who don’t have banking access, as well as opening the door for small businesses and individuals to begin building a credit score. Founded in 2016, Colendi seeks to empower the developing world, designed to serve the “unbanked/underbanked”. It relies on machine-learning algorithms to determine client’s credit scores. EU-Startups names Colendi one of the top 10 Swiss start-ups to watch out for in 2019, with $2.5MN raised in funding. 

HQ: Zug, Switzerland

Revenue: Raised $2.5MN in funding

Number of employees: 19



2. Legal Nodes

Founded in 2018, Legal Nodes provides legal services for companies that use cryptocurrency. With a focus on Distributed Ledger Technology (DLT), it seeks to help tech start-ups circumvent the legal stresses of initiating a company. Based in London, UK, its company mission is to build the first decentralised law firm. Most of the company’s team has a law background, which leads to efficient tech creation; according to F65, it automates the non-legal work that traditionally occupies 40% of lawyers’ time. According to EU-Startups, it is one of the top ten European blockchain start-ups to watch out for.

HQ: London, UK

Revenue: N/A

Number of employees: 13



1. The Bitfury Group

Based in Amsterdam, the Netherlands, The Bitfury Group recently became one of the few blockchain companies in the world to be valued at $1bn. It is the largest full-service blockchain technology company in the world, delivering both hardware and software solutions for clients who range from businesses and governments to organisations and individuals. Founded in 2011, it provides security and infrastructure for bitcoin blockchain. Most recently, it launched an AI division. Although the segment is still in the research and development stage, Reuters reports that it should start offering AI products by early 2020.

HQ: Amsterdam, the Netherlands 

Revenue: $6.8mn

Number of employees: 488


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