Magic AI tops Deloitte UK Technology Fast 50 ranking

• Fitness technology company Magic AI tops Deloitte’s 2026 UK Technology Fast 50 awards with a three-year growth rate of 19,774%;
• The Fast 50 ranks the UK’s 50 fastest-growing technology companies based on revenue growth over a three-year period;
• The combined revenue of the Fast 50 winners totalled £727 million in 2025/26, with an average revenue growth of 2,824% over a three-year period.

Fitness technology company Magic AI was last night named the UK’s fastest-growing technology company in the 2026 Deloitte UK Technology Fast 50 awards, after achieving revenue growth of 19,774% over three years.

The awards recognise and rank the 50 fastest-growing technology companies in the UK, based on average revenue growth over a three-year period, with the prestigious ceremony taking place last night, Thursday 5 November, at the Park Hyatt London River Thames.

London-based Magic AI, founded in 2022, is a FitTech platform that has developed an AI-powered smart fitness mirror that uses proprietary computer vision technology, real-time body tracking and personalised coaching to deliver interactive home workouts and virtual personal training.

The 2026 Fast 50 winners have a collective average three-year growth rate of 2,824% and generated total revenues of £727 million in 2025/26, highlighting the continued growth and economic contribution of the UK’s technology sector.

Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme, said: “The Fast 50 continues to showcase some of the UK’s fastest growing and most innovative technology companies. This year’s winners demonstrate the ambition and resilience of the UK technology sector, with businesses continuing to innovate, scale and pursue growth amid a challenging economic backdrop. This year’s 50th-placed company recorded growth of 708%, the highest threshold for entry into the Fast 50 since 2021, underlining the strength of this year’s cohort.

“Congratulations to Magic AI and all of this year’s Fast 50 companies. Their success reflects the strength of the entrepreneurs and teams behind these businesses, and the important contribution that fast-growing technology companies make to innovation, jobs and economic growth across the UK.”

Varun Bhanot, co-founder and CEO of Magic AI, said: “Being ranked No.1 in Deloitte’s UK Technology Fast 50 is an incredible honour and a testament to the team behind Magic AI.

“I started this company after experiencing how life-changing personal training could be, but also how inaccessible it was for so many people. Today, we've helped transform the lives of over 30,000 people across 43 countries, with more than 500,000 AI-coached workouts completed. And we're only just getting started.”

South-East based Dexory Limited ranks second in this year’s Fast 50, recording a three-year revenue growth of 17,687%. The robotics and AI warehouse intelligence company uses autonomous robots, real-time data capture, and analytics to help logistics and supply chain operators improve inventory accuracy, warehouse visibility and operational efficiency.

Dexory also tops in the Women in Leadership award category, which recognises companies within the Technology Fast 50 ranking that are either led by a female CEO or have a woman in their founding team.

London remains the UK’s technology growth powerhouse

The majority of Fast 50 companies continue to be headquartered in London, with two-thirds (66%) based in the capital. However, there are standout performances from companies across the UK, with Cambridgeshire and East, the South East, and the South West and Wales each producing three Fast 50 winners this year.

Glasgow-based Phlo ranks ninth in this year’s Fast 50, with three-year revenue growth of 3,846%. The healthcare and life sciences company develops digital healthcare solutions that help brands deliver safe, seamless care at scale.

Cardiff-based Finalrentals ranks 14^th with three-year revenue growth of 2,865%. The company operates BLADE, an AI-powered booking platform that helps customers find and book car rentals worldwide.

Kiren Asad added: “London’s continued strength in the Fast 50 underlines its position as a leading hub for ambitious technology businesses, with access to talent, investment and networks helping companies to scale at pace. But high-growth businesses can and do emerge across the UK. Creating the right conditions for more of these companies to start, scale and succeed in every region will be important to strengthening the UK’s technology ecosystem as a whole.”

London-based Sunsave Group Limited, which ranks fourth, tops the CleanTech category, which recognises climate technology companies within the Fast 50 for their contribution to the UK’s net zero target. The renewable energy company designs, installs and maintains residential solar panel and home battery systems.

ENDS

Notes to editors

2026 UK Technology Fast 50

About the Deloitte UK Technology Fast 50

The Deloitte UK Technology Fast 50 is one of the UK’s foremost technology award programmes. Now in its 29th year, it is a ranking of the country’s 50 fastest growing technology companies, based on revenue growth over the last three years. The UK Fast 50 awards are all about growth driven by leading intellectual property and are a celebration of innovation and entrepreneurship. Previous winners have come from across the UK, are both large and small, and included some of the most dynamic players in all areas of technology, from IoT to BioTech, digital media technology to life sciences, FinTech to software and clean energy to telecommunications. 

For more information visit www.deloitte.co.uk/fast50. 

The full list of this year’s winners and winner breakdown by region and sector is available at www.deloitte.co.uk/fast50. 

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