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AIR BNB, Uber and Deliveroo are all house-hold names and multi-billion-dollar companies. They also share humble beginnings. Starting out as a simple idea among associates or friends, these firms rode the wave of smartphone ubiquity and cheap cloud computing to redefine the way we book a hotel, hail a cab, and order takeaway food.
With this generation of start-ups now well-established, a new cohort is eyeing billion-dollar valuations. However, with opportunities to reinvent drying up, these tech start-ups – tomorrow’s unicorns – look more likely to supply software that serves and modernizes existing sectors.
CB Insights, a firm that tracks venture capital and start-ups, recently compiled a list of 50 start-ups likely to achieve a billion-dollar valuation for the New York Times. Among the highlights is Benchling, a San Francisco start-up, which developed software enabling scientists to ditch their notebooks in favor of searchable records stored in the cloud. The system is already used by more 140,000 users.
Another notable entry is Farmers Business Network, which harnesses increased digitization of farming processes to offer a subscription service to farmers to share and analyze agricultural data as well as buy supplies and sell crops. London-based Citymapper is also listed. This company started out as a transit app and mapping service, integrating data for all urban modes of transport. It is now building a shared mobility solution, which combines car sharing with public transport.
This article first appeared on www.railwayage.com
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