The inaugural Sunday Times 100 Tech league table was published on 17 January and features an even split of software and hardware companies. Third out of the 50 software companies is UrbanChain, a UK firm which operates a ‘marketplace’ that matches generators of renewable energy and consumers on a half hourly basis.
UrbanChain is also one of 17 companies in the league table led, founded or co-founded by a woman.
The Manchester Science Park-based company has an annual growth rate of 334.39%, and was ranked fourth in the overall 100.
Somayeh Taheri, UrbanChain Founder CEO, said: “To be recognised by one of the world’s leading news publishers is a significant moment for UrbanChain.
“I remember The Times including UrbanChain in its ‘Rising stars series: the companies growing fast in the North West’ back in September 2021.
“Looking at where we were then to where we are now very much symbolises the journey so far.”
She added: “There’s no doubt that today, as a team, we feel a real sense of pride. We have once again reached another important stage in our growth and this accolade is very much welcome.”
UrbanChain – whose marketplace matches generators of renewable energy and consumers on a half hourly basis, including private companies, office buildings, industrial sites, local government organisations, hospitals and many more – recorded 10x revenue growth to £25m in 2024.
The Sunday Times 100 Tech reported that UrbanChain was only one of four companies to be profitable in the software top 10.
It also said: “Somayeh Taheri, 42, Mo Hajhashem, 39, and Ayesha Naureen, 40, started UrbanChain in 2017 to provide a traceable energy exchange for small-scale renewable generators with customers. Based in Manchester Science Park, it uses artificial intelligence and distributed ledger technology to match producers and consumers, cutting out the power companies in the middle.
“Revenues, which hit £25 million last year, include the cost of the electricity. The company secured a licence from the energy regulator Ofgem to provide electricity to non-domestic customers in the UK, and it also plans to launch in the US and Ireland this year. It is currently raising around £50 million, having secured £10.5 million so far.”
The Sunday Times 100 Tech, Britain’s fastest-growing private technology companies, is supported by Singer Capital Markets, HSBC Innovation Banking and BDO.
UrbanChain founders and directors will be attending the awards and an invitation-only networking dinner on Thursday, 3 April at The Londoner, Leicester Square, central London.
