In a world where innovation is necessary to succeed, there are certain emerging companies that have a lot of potentials. These companies have adapted to current scenarios and have found innovative solutions to problems. In difficult times like these, some companies have managed to come out on top and may continue to so. In this article, we will take a look at 5 emerging companies of 2020 that you should keep an eye on.
Read: The Next Billion-Dollar Companies
Solidia
Cement production accounts for 7% of the world’s greenhouse gas emissions. This poses a huge problem for the world’s climate. Climate change is a growing issue, one that needs to be addressed as soon as possible. Solidia came up with a solution to reduce these greenhouse gases in cement production.
The New Jersey-based startup replaced limestone with its own patented synthetic material in the production process. This material has the benefit of requiring lower temperatures and lesser energy than traditional methods. This enables the cement to absorb CO2 as it becomes hard, leading to a process that has a 70% lower carbon footprint. Solidia started commercially in the U.S. in August 2019 through a partnership with paving company EP Henry. This company came up with an innovative solution to a global problem and is one to look out for.
Afresh
Food wastage is an age-old problem for restaurants, stores, and households. Afresh’s software uses an algorithm and artificial intelligence to help stores in optimizing their fresh food inventories by cutting down on waste.
Afresh was founded in 2016. Since its inception, it has partnered up with various billion-dollar grocery chains and is in talks with even more. The company has been very successful in delivering on its promise to its consumers. Many grocery chains who are clients of Afresh have reported that their software has helped reduce their food wastage by almost 50%. That shows the effectiveness of Afresh. This is one of the many reasons why they are one of the many emerging companies to look out for in 2020.
Understory
Understory is an insurance company that develops smart weather station micro-grids. The company builds “weather sensors” that collect and analyze data regarding weather. This data may be collected by tracking factors like precipitation, temperature, wind, humidity, and air pressure. Moreover, Understory partnered with insurance firm MSI GuaranteedWeather in 2019. This is because the data it collects helps the insurance company in determining hail-related auto insurance claims. This innovative approach could help speed up the payout process and make it much smoother. Furthermore, the company wants to further diversify into other insurance areas related to the weather. They may revolutionize the way we think about these payouts and are ones to watch out for.
Shape Therapeutics
This one might be the most relevant during a pandemic. Shape Therapeutics is working on technology that would alter human RNA to correct mutations or fight diseases. The company raised a $35.5 million Series A round in November. This will help them build their staff and open a satellite office in Cambridge, Massachusetts, in 2020. Their revolutionary technology may be able to fight countless diseases and change the medical industry forever. Hence, they are set for big things in the coming years.
Better.com
Anyone who knows about mortgages knows what a tiring and confusing process it can be to issue one. Better.com, however, has come up with a modern solution to that problem. Based in New York, the company is trying to modernize the antiquated mortgage application process by bringing it online. The primary income source for the company is interest from the deals, rather than commission or service fees. Furthermore, the company lent more than $4 billion to homebuyers in 2019 and announced a $160 million funding round in August. This brought its total funding to $254 million. As Better.com continues to grow, we can expect it to succeed even more in the coming years.
With several emerging companies around, we have looked at 5 of those with the most potential. Let us know if you have any other companies in mind in the comments below!
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