The UK’s top Wearables startups

One of the most exciting trends in consumer technology relates to “wearables” – clothing items or accessories that can be integrated with technology to provide a particular service. Such products have already made significant inroads into our daily lives, with the most obvious examples being American products – the FitBit and the Apple Watch (the Chinese wearable market is dominated by Xiaomi). However, a cohort of young British companies have also sprung up in this sector to create new commercial niches with undeniably fascinating products.

The UK’s wearables startup sector was turbocharged in April by its largest raise yet – $42m by femtech leader Elvie. Capital for this round was supplied by Octopus Ventures, impact investor Impact Ventures UK (managed by an arm of the Princely House of Lichtenstein’s family office), and IPGL, the investment vehicle of British billionaire and “city grandee” Michael Spencer. 

The next largest raise in this sector goes to WaveOptics, based in the high-tech hotspot of Milton Park in Oxfordshire (alongside Immunocore and Tokamak Energy). In somewhat of a sci-fi vein this company has developed augmented reality technology to overlay normal glasses. Their most recent raise, €23m in December last year, was backed by the IP Group, Robert Bosch Venture Capital, and Octopus Ventures. 

Other startups, whilst raising less capital over the years, offer exciting products nonetheless. DNAnudge, a personalised genomics company and spinout from Imperial College London, provides a service whereby they map their customer’s genomes. They then offer tailored health advice according to the particular person’s DNA. As part of this, they have designed a wearable called the DnaBand. This wristband can scan a particular food item whilst someone is shopping. It then lights up in either a red or green, indicating whether the product is a good match for their DNA. 

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