January 2026 Consumer tech in the UK UK consumer tech isworth a combined The UK has produced57 consumer unicorns Consumer VCinvestment is growing Consumer unicorns account for 29%of all UK $1B+ companies and exits. UK consumer tech startups raised$3B in 2025, up 25% on 2024ʼs totalof $2.4B. UK startups operating in consumermarkets have so far generated $185Bin combined enterprise value. Some of the best known modernhousehold names are homegrowntech companies, including Deliveroo,Just Eat, Octopus Energy, ASOS,Trainline, Boohoo, Depop, Investment is growing again for thefirst time in four years, driven bylate-stage rounds for a broad rangeof consumer startups, including in The most valuable cohort ofconsumer tech startups in the UK areunder 10 years old, reaching scaledvalue earlier in their journey than “Weʼre delighted to present this overview of the UKConsumer sector in partnership with Dealroom.Despite some continued micro and macro headwindsthe report shows that the Consumer sector continues “The UKʼs ability to punch above its weight in generating ConsumerUnicorns and innovation in key sub sectors such asmarketplaces/ecommerce, edtech, gaming and creative services putsit in a unique position globally. We at HSBC Innovation Banking areexcited to support the sector to continue to drive innovation, grasp John StewartDirector - Consumer, Venture &Growth 2Sector spotlights UK consumertech companiesare worth a The most valuable cohorts ofventure-backed startups arealso the youngest. Companiesfounded between 2015 and Value accelerated rapidly upto and during Covid, sincewhich the ecosystem hassettled, as venture capital has UK consumerstartups raised$3B in 2025, up25% year on year After three years ofcontraction, UK consumer The return to growth islargely due to growth atlate-stage investment stage,rounds of $100M+. While earlyand breakout investment has Late-stage investment has returned in 2025, driving overall growth, butinvestment remains below pre-covid levels at all stages The biggest UKconsumer venture UK consumer tech startups arebuilding across a hugely diverserange of applications. Some of the biggest rounds in 2025have come for a movie streamingplatform (Mubi), iPhone challengersmartphone (Nothing), personalisedhealthcare (SheMed) and functional » see rounds The UK hasproduced 57consumerunicorns and Some of the best knownmodern household namesare homegrown UK techcompanies, includingDeliveroo, Just Eat, OctopusEnergy, ASOS, Trainline, UK Consumer Marketplaces & Ecommerce in numbers Sector spotlight:Consumer Marketplaces & Ecommerce UK Ecommerce &Marketplaceunicorns haveincreased 20x in Ecommerce and marketplacestartups experienced rapidgrowth driven by the mobile era, The UK has produced moreEcommerce & Marketplacestartups than any country otherthan the US (227) and China Sector spotlight:Edtech UK Edtech is nowworth over $12B,and has producedtwo unicorns 2021 saw a big step forward forUK edtech, as Multiverse,Learning Technologies Groupand Immersive labs allsignificantly increased theirvaluations, driven by broader Sector spotlight:Gaming The UK gamingsector is diverseand geographicallydistributed, asrepresented in the UK gaming startups raised $302M in2024 across 52 rounds, and $134M in2025 across 54 rounds. UK Creative startups in numbers UK Martechstartups nowemploy over132k people Methodology. What is a startup? Underlying Data Sectors Dealroomʼs proprietary database and softwareaggregate data from multiple sources: harvestingpublic information, user-submitted data verifiedby Dealroom, and data engineering. All data is Companies designed to grow fast. Generally,such companies are VC-investable businesses. Dealroomʼs proprietary tech taxonomy consistsof 32 fixed industries, 77 sub-industries, andthousands of tags for niche, granular company When startups are successful, they develop intoscaleups (>50 people), grownups (>500 people)and result in big companies. Only companiesfounded since 1990 are included in this report. Guide» Dealroom tech taxonomy The data on which this report is built is availableviaapp.dealroom.co. For more info please visitdealroom.co or contactsupport@dealroom.co. Blog post» What is a Startup? Startup graduation rates *Startup graduation rates track startups thatsecured seed funding in a given year andmeasure how many raise Series A, B, or C+ within3 to 36 months. The calculation excludes What is a unicorn? Venture Capital, Investors Unicorns are (former) startups that are privatelyvalued at over US$ 1B, or have achieved a $1B+exit via public market or M&A. Investment are referred to by their round labelssuch as Seed, Series A, B, C, … late stage, andgrowth equity. VC investments exclude debt,non-equity funding, lending capital and grants. A decacorn is a unicorn that is valued at $10B+. © 2026 HSBC Innovation Bank Limited. All rights reserved. HSBC Innovation Bank Limited (trading as HSBC Innovation Banking) is