MAGIC AI Ranked #1 in the Deloitte UK Technology Fast 50

We are delighted to share that IW Capital portfolio company, MAGIC AI, has been named the UK’s fastest-growing technology company, taking the top spot in the Deloitte UK Technology Fast 50.

The Deloitte Technology Fast 50 is one of the UK’s most established technology awards programmes. The annual ranking is based on revenue growth over the past three years, meaning MAGIC AI has grown faster than any other tech business in the country.

For founder and CEO Varun Bhanot, the win carries personal meaning. Twelve years ago, the company he worked for made the same list. “I was just an employee then, watching from the sidelines,” he said. “I never imagined I’d be back one day with a company of my own. Let alone top the list.”

That growth is driven by MAGIC AI’s Fitness Mirror, which combines computer vision and connected weights to deliver real-time form correction, rep counting and personalised feedback, bringing the expertise of a personal trainer into the home. As demand for flexible, high-quality home fitness continues to grow, MAGIC AI has established itself at the forefront of AI-powered fitness.

The ranking caps off a remarkable year for the business, which was also ranked No. 4 on the Financial Times’ list of Britain’s Fastest-Growing Companies 2026 and No. 21 on the FT1000 list of Europe’s Fastest-Growing Companies.

Having backed MAGIC AI since its Series A and co-led its recent $11m Series B round, we have seen first-hand the ambition and talent behind this success. At IW Capital, we are proud to support high-growth companies building category-leading products, and MAGIC AI is a strong example of what can be achieved.

Congratulations to Varun Bhanot and the whole MAGIC AI team on this outstanding achievement.