Fitness technology company Magic AI has been named the UK's fastest-growing technology company in the 2026 Deloitte UK Technology Fast 50 awards, after achieving revenue growth of 19,774 per cent over three years.

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

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

Varun Bhanot, co-founder and chief executive of Magic AI, said being ranked number one in Deloitte's UK Technology Fast 50 was an incredible honour and a testament to the team behind the company.

South East-based Dexory ranked second in this year's Fast 50, recording three-year revenue growth of 17,687 per cent. The 2026 Fast 50 winners achieved an average three-year growth rate of 2,824 per cent and generated combined revenues of £727 million in 2025/26, underlining the continued growth and economic contribution of the UK's technology sector.

The ranking measures the rate of growth rather than the size of a business, so a young company growing from a small base can post a very large percentage. Even with that caveat, topping a national ranking of the country's fastest-growing technology firms is a notable milestone for a London start-up founded only four years ago, and a sign of how quickly AI-powered consumer fitness has moved from novelty to mainstream business.

[Source: businesscloud.co.uk](https://businesscloud.co.uk/news/magic-ai-crowned-uks-fastest-growing-tech-company/) | [Source: europesays.com](https://www.europesays.com/britain/161469/)