Fuel that absorbs carbon dioxide. Detecting fake news and deepfakes. Deciphering real-world 5G millimeter-wave deployments.
Finding a niche as a startup can be challenging, and these startups are solving problems in innovative ways. As such, if you’re looking for who’s going to make a big impact and rapid growth this year and beyond, these businesses are pretty safe bets. Here are five startups to keep your eye on.
FuelGems
Founder: Kirill Gichunts
Segment: Nanotechnology
In recent years, there has been an explosion of research into fuel additives. Scientists are striving to design new fuels that will help reduce the CO2 emissions — from the aviation sector to the fashion supply chain (according to the World Economic Forum, the production of clothing accounts for about 10 per cent of our total carbon emissions).
To overcome this challenge, FuelGems is making traditional fuels more sustainable having developed a nanoparticle fuel additive that can be added to gasoline jet engines, diesel, gasoline, and biofuels. Results have shown that adding this nanoparticle results in a 9 per cent reduction in carbon emissions, a 15 per cent reduction in carbon monoxide, and a decrease in the emission of unburnt hydrocarbons and other particulate matter by up to 50 per cent. The additive developed by FuelGems is capable of transforming the transportation industry as it is cost-effective and does not require new infrastructure to work, meaning that it can easily be adopted.
It is in a unique market position, offering a product that is easily adoptable by the industry.
The best part? A tiny micro-dose of this carbon-based nanoparticle — only one to five grams of their additives are needed to treat 260 gallons of fuel — can create an impact on both the fuel industry, and the future. And with $900,000 secured by the startup to produce green technology, we hope to see plenty more innovation to come.
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Abnormal Security
Founder: Evan Reiser, Sanjay Jeyakumar
Segment: Email security
Ransomware might make the headlines, but business email compromise (BEC) attacks, particularly in the C-suite, can pave the way for huge losses, both financial and reputational. Leveraging AI-based behavioural data science, Abnormal Security’s software targets BEC attacks, which cost businesses nearly $1.9 billion in 2020. BEC occurs when a bad actor compromises legitimate corporate email accounts, masquerading as an employee and tricking anyone from the CEO to CFO into transferring large sums of money or sensitive documents.
To combat the fast-proliferating BEC attacks, Abnormal Security, which has raised over $74 million in funding, borrows from adtech with behavioural profiling much like the way Facebook and Twitter can display ads tailored to you to predict the legitimacy of emails seemingly sent requesting money transfers of thousands or even millions of dollars. Its AI-powered technology understands known good behaviour by profiling end users and vendors, their behaviour, content, and tone, making it effective at detecting anomalies and blocking all attacks.
Even as applications of machine learning and perception platforms become commonplace, a thick layer of hype clings to AI-enabled software.That makes it tough to identify the most compelling companies in the space. Abnormal Security is one of those finding new ways to use AI to tackle escalating brute-force attacks and account takeover attempts for C-suite mailboxes.
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Movandi
Founder: Maryam Rofougaran
Segment: 5G mmWave solutions
The rollout of 5G will enable foundational technologies to provide services closer to the access edge. And with so many IoT devices streaming massive amounts of information, the need for big data warehouses, machine learning and artificial intelligence will create opportunities for new lines of commercial services.
But some experts worry that the technology, which has huge potential thanks to its ability to transfer large amounts of data quickly, won’t be as accessible to those outside of high-density areas. Movandi aims to remedy that. The startup creates technology that broadens the reach of 5G spectrum bands. And while the wireless signal loses much of its potency if not in the recipient’s line-of-sight, Movandi’s tech can bend the signal around buildings and other obstacles.
The Movandi approach is based on patented 5G millimeter-wave chipsets, RF power amplifiers, MIMO (Multiple Input Multiple Output) antennas, BeamXR smart repeater modules, and BeamX algorithms and software. It provides mesh networking capability with redundant and dynamic routing and provides control via cloud-based data centres to balance and optimise network routing based on traffic and quality of connectivity. These innovations reduce the required number of gNodeBs through load-balancing traffic across networks to provide continuous connectivity, even in moving vehicles.
The innovative Movandi 5G mmWave platform enables a cost savings of about 52 per cent as well for the deployment of millimeter wave solutions for 5G. The startup, which has $30 million in funding, has begun deployments with Verizon, Korea Telecom and SK Telecom.
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Iceye
Founder: Rafał Modrzewski, Pekka Laurila
Segment: Robotics/AI
With the acquisition of eight new spacecraft, this Finnish space startup that develops micro-satellites to capture images from space is expected to have a stellar 2021 and beyond. It is the only space Synthetic-Aperture Radar (SAR) satellite provider to achieve wide-area scan mode imaging. Its unique system design, which minimises the size and weight of satellites, provides comprehensive persistent monitoring capabilities both for land and sea data use cases. It provides companies, governments and institutions around the globe that rely on satellites fast, accurate and reliable images after natural and anthropogenic disasters, like oil spills. With its fleet, Iceye can get images of a location within a few hours.
Since satellites have always been limited by the timing and rate of target imaging, Iceye solves this problem. Earlier this year, the world’s largest reinsurer, Swiss Re, partnered with it to improve flood risk management, assist disaster response and expedite claims payments. Last year, it raised around $85 million in its Series C funding. The company plans to be serving customers in the security, maritime, disaster management, insurance and finance industries.
Attestiv
Founder: Nicos Vekiarides, John Bates and Mark Morley
Segment: Information technology
As businesses transform the way they interact with their customers, increased digitisation has also exposed businesses to online frauds and scams. Fake news and Deepfakes are a growing problem and it’s necessary to find a solution that could discern the authenticity of assets stored. Attestiv does that with its patented technology. Using blockchain and artificial intelligence powered technologies, it solves targeted problems of business organisations reliant on digital media by validating in real-time via mobile devices, APIs or its web portal. As a result, it helps organisations build trust with fraud prevention and detection. Shortly after raising a $2 million seed fund, Attestiv teamed up with another blockchain firm, Algorand, to fight insurance fraud, and collaborated with ACD to bring AI photo analysis and authenticity into claims operations for fraud prevention.
With the global fraud detection and prevention market size expected to reach $62.70 billion by 2028 because of the rise in incidences of mobile payment frauds and card frauds, Attestiv is poised to make an impact.
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