The inaugural Sunday Times Scotland Fast 50 has landed, highlighting companies growing across sectors ranging from AI and fintech to engineering, healthcare and consumer goods.

The new index, backed by Cazenove Capital and supported by S&W and the Scottish government, features 50 companies selected to demonstrate the breadth of Scotland’s economic base.

More than one third of those included were founded within the past decade, having started and scaled against a backdrop of Brexit, the Covid pandemic and wider geopolitical uncertainty.

To get a spot, companies were required to have recorded average annual revenue growth of at least 20% across their two most recent financial years. Entrants were also assessed on areas including strategy, job creation, fundraising and plans for further expansion, with a judging panel comprising of Scotland’s chief entrepreneur Ana Stewart; Cazenove Capital head of UK regions Bob Hair; BGF origination partner Gemma Hamilton; Panoramic Growth Equity investment partner Malcolm Kpedekpo; 4J Studios entrepreneur Chris van der Kuyl; and Greig Cameron, Scottish business editor at The Times and The Sunday Times.

Perhaps unsurprisingly, tech businesses feature prominently, spanning cybersecurity, AI, financial software, digital health, connectivity, space technology and ecommerce infrastructure.

Among them is Edinburgh-based Quorum Cyber, which has grown into a managed security provider serving private, public and charity-sector organisations in the UK and North America.

Founded in 2016 by Federico Charosky, the company recorded sales of £31.8 million in its latest financial year. It has also expanded internationally, using investment from Charlesbank to acquire businesses in Canada and the US during 2024.

Fellow Glasgow-based security company Acumen Cyber also appears in the list after generating £3 million in sales during its latest year.

Established in 2023, Acumen Cyber has built its services around engineers handling threats from detection through to prevention. Its customers include Edinburgh Airport and Edinburgh Napier University.

Edinburgh software development company ClearSky Logic is another of the technology firms selected.

Founded in 2018 by Darren Auld and Phil Telfer, ClearSky Logic builds digital systems intended to help mid-sized companies improve processes and accelerate services, particularly in the finance and healthcare sectors.

One project developed by the company reduced the time required to make finance application decisions from several days to less than 15 minutes. ClearSky Logic now employs 51 people and recorded annual sales of £4.7 million.

The list also reflects the increasing role of AI within Scotland’s technology economy.

Edinburgh-based Aveni, founded in 2018, develops AI systems for financial services, with tools designed to support work involving compliance, risk and customer advice. Its technology includes FinLLM, a large language model trained specifically for the financial sector.

The company has raised £30 million in funding (with the latest round of £12 million coming earlier in the month), employs 94 people and reported sales of £4 million in its latest year with more to likely come as the firm recently announced the addition of incoming CCO, Kent Mackenzie,

Other fintech and financial software companies include AutoRek, LendingCrowd and Amiqus.

Scotland’s broader software and digital services sector is represented by companies including Waracle, Hyble Technology and Snappy Shopper.

Digital health also accounts for several of the companies selected.

Glasgow-based Phlo combines online consultations, prescribing, pharmacy services and delivery through a platform serving patients directly and supporting other healthcare providers. It recorded sales of £74.3 million in its latest year.

Simple Online Healthcare, also founded in Glasgow, operates an online assessment, prescribing, dispensing and delivery model across the UK, Australia, Germany and Denmark. The company has supported more than one million patients and recorded sales of £155 million without raising external funding.

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Scotland’s growing space, connectivity and smart infrastructure industries are also represented.

Craft Prospect, founded in Glasgow in 2017, develops technology for small satellites, including onboard intelligence, imaging systems and quantum communications. It has worked with organisations including the European Space Agency, BT, Honeywell and Toshiba.

Bathgate-based Clarus Networks provides satellite, wireless and managed connectivity for organisations operating in locations such as railways, ferries, construction projects and energy sites. The company has reached annual sales of £26.9 million while remaining self-financed.

GoFibre appears after expanding full-fibre broadband coverage across rural parts of Scotland, while Utopi has developed smart sensor technology to monitor energy use and environmental conditions in multi-tenant buildings.

The technology cohort also includes Shot Scope, which produces performance-tracking products used by more than 400,000 golfers across over 160 countries, and ESP Group, which supplies transport customer-service, ticketing and software services.

The Sunday Times Scotland Fast 50 in full (in alphabetical order)

Acumen Cyber

Founded in Glasgow in 2023, Acumen Cyber provides managed cyber defence services built around engineers handling threats from detection through to prevention. The 36-person company recorded sales of £3 million, with customers including Edinburgh Airport and Edinburgh Napier University.

Allied Vehicles Group

Glasgow-based Allied Vehicles Group supplies adapted and special-purpose vehicles, including vehicles supporting elderly and disabled people. Founded in 1993, it employs nearly 800 people and generated sales of £320.4 million.

Amiqus

Edinburgh-based Amiqus provides digital onboarding, identity verification and compliance technology for governments and regulated organisations. Its software has supported more than four million user journeys, while annual sales reached £4.8 million.

AutoRek

Founded in Glasgow in 1994, AutoRek develops automated reconciliation and financial control software for financial services companies. Its technology processes around $4 trillion in annual transactions, with the company reporting sales of £28 million.

Aveni

Aveni develops AI technology for financial services, including systems supporting compliance, risk management and customer advice. The Edinburgh company has raised £30 million, employs 94 people and recorded annual sales of £4 million.

Axol Bioscience

Edinburgh-based Axol Bioscience produces human cell models and specialist services used in research into neuroscience, heart disease, ophthalmology and dermatology. The company manufactures from Roslin and reported annual sales of £5.9 million.

Balmoral Group

Founded in Aberdeen in 1980, Balmoral Group operates across engineering, manufacturing, offshore energy, water storage, property and hospitality. The family-owned company generated sales of £202.4 million.

Bayne’s

The Fife bakery has grown from its Lochore roots to operate more than 70 shops across Scotland. Bayne’s employs almost 1,000 people and recorded annual sales of £51.3 million.

Brooklyn Travel

Glasgow-based Brooklyn Travel operates brands across luxury travel, cruises, golf holidays, tour operations and corporate travel. Its portfolio includes Stewart Travel, Destinology, CruiseKings and Scotland’s Cruise Centre, with annual sales of £215.2 million.

Castle Precision Engineering

Castle Precision Engineering manufactures critical components for aerospace and defence customers. Founded in Glasgow in 1951, the family company reported annual sales of £32.6 million and secured a contract worth more than £85 million with Rolls-Royce in 2024.

Clarus Networks

Bathgate-based Clarus Networks supplies satellite, wireless and managed connectivity for sectors including transport, energy, construction and broadcasting. The self-financed business employs 85 people and generated sales of £26.9 million.

ClearSky Logic

Founded in Edinburgh in 2018, ClearSky Logic develops software and digital systems for mid-market companies, particularly in finance and healthcare. The company employs 51 people and reported annual sales of £4.7 million.

Connekt EV Charging

Glasgow-based Connekt EV Charging installs and manages public electric vehicle charging points across the UK. Founded in 2022, the profitable company generated sales of £4.5 million and plans to double its 25-person workforce.

Craft Prospect

Craft Prospect develops onboard intelligence, imaging and quantum communications technology for small satellites. The Glasgow company has worked with the European Space Agency, BT, Honeywell and Toshiba, and recorded annual sales of £4.9 million.

Dean’s

Founded after Helen Dean began baking shortbread in her Huntly kitchen, Dean’s now manufactures shortbread and biscuits from Aberdeenshire. The family business, which has acquired Duncan’s of Deeside, reported sales of £15 million.

Dfyne

Glasgow-headquartered Dfyne sells activewear across the UK, US, Europe, Australia and Canada. The company employs 210 people and generated annual sales of £152 million.

Ember

Founded in 2020, Ember operates an all-electric intercity bus network across Scotland. The company began with two buses on a route between Edinburgh and Dundee and has since expanded to employ 347 people.

Enhance Healthcare

Founded in Glasgow in 2012, Enhance Healthcare operates care homes and employs 478 people. The company recorded annual sales of £58 million, representing growth of 50%.

Enviro-Clean

East Kilbride-based Enviro-Clean provides waste management, drainage, industrial cleaning and environmental services across the UK. The company employs 246 people and generated sales of £37 million.

ESP Group

Headquartered in Arbroath, ESP Group provides customer support, smart ticketing, fulfilment, accessibility and software services to transport organisations. Its customers include Transport for London and ScotRail, while the group employs around 360 people and reported sales of £17.4 million.

First Tech

Aberdeen-based First Tech comprises eight energy services companies operating across oil and gas, offshore wind, decommissioning, subsea cable protection and related areas. The family-owned group employs 390 people and generated sales of £72 million.

Forsyths

Founded in Rothes during the 1890s, Forsyths manufactures equipment for whisky distilleries and provides specialist fabrication to sectors including oil and gas and pharmaceuticals. The family engineering company recorded annual sales of £100.7 million.

George Leslie

Barrhead-based George Leslie delivers water, wastewater, marine and heavy civil engineering projects. Founded in 1964, the company employs more than 400 people and reported sales of £134.4 million.

GoFibre

Edinburgh-headquartered GoFibre builds full-fibre broadband networks in rural and underserved areas. The company covers 130,000 premises, has connected 22,000 customers and recorded annual sales of £7.8 million.

GolfClubs4Cash

Based in Loanhead, GolfClubs4Cash buys and resells second-hand golf equipment online and through several physical locations. The company employs more than 120 people and generated annual sales of £32.7 million.

Green Fulfilment

Glasgow-based Green Fulfilment provides warehousing, order processing and global shipping services to ecommerce businesses. It operates five warehouses across Scotland, England and the Netherlands, employs 76 people and reported sales of £7 million.

Hyble Technology

Hyble Technology develops software that helps drinks companies create, approve, print and distribute point-of-sale materials. The Edinburgh company operates across more than 50 markets and generated annual sales of £16.7 million.

Island Bakery

Island Bakery produces organic biscuits from a renewables-powered facility on Mull. Its customers have included M&S, British Airways, Waitrose and Fortnum & Mason, while annual sales reached £5.7 million.

Kiltane

Founded in Edinburgh in 1997, Kiltane sells cashmere, wool, tweed and other Scottish luxury clothing and accessories. The retailer employs 135 people and recorded annualised sales of £27.9 million.

Leask Marine

Orkney-based Leask Marine provides vessels, subsea services, drilling support and marine co-ordination for offshore energy projects. The privately owned company employs 70 people and generated annual sales of £20.1 million.

LendingCrowd

Edinburgh fintech LendingCrowd provides loans of between £75,000 and £500,000 to small and medium-sized companies. It has delivered around £600 million in lending since launching and reported sales of £14.4 million.

Maki & Ramen

Founded in Edinburgh in 2015, Maki & Ramen operates a chain of 20 Japanese restaurants serving sushi, ramen and cocktails. The group employs 233 people and generated annual sales of £23.8 million.

Malcolm Allan Housebuilders

Family-owned Malcolm Allan Housebuilders develops homes across Aberdeen and the northeast of Scotland. The Kintore company reported annual sales of £22.1 million and received five-star status in the Home Builders Federation’s 2026 customer satisfaction survey.

Morris & Spottiswood

Founded as a Glasgow joinery workshop in 1925, Morris & Spottiswood is now a UK-wide construction and built-environment group. It recorded sales of £231.1 million in 2025 and said it delivered £118 million in social value during the year.

Phlo

Glasgow digital health business Phlo combines online consultations, prescribing, pharmacy and delivery services. It reported annual sales of £74.3 million and has raised £22 million from external investors.

PPS Logistics

Founded in Kilmarnock in 2020, PPS Logistics operates across parcel delivery, pallet distribution, freight forwarding, warehousing and vehicle repair. The company has developed its own AI tools and generated annual sales of £12 million.

Procast Group

Hamilton-based Procast Group provides retrofit, construction, renewables and refurbishment services, with a particular focus on energy efficiency. It has expanded through acquisitions and new regional offices, recording annual sales of £54 million.

Quorum Cyber

Founded in Edinburgh in 2016, Quorum Cyber provides managed cybersecurity services to private, public and charity-sector customers in the UK and North America. The company generated sales of £31.8 million and expanded through acquisitions in Canada and the US during 2024.

RoslinCT

RoslinCT manufactures advanced cell therapies from facilities in Scotland and Massachusetts. The Edinburgh company has worked on treatments including Casgevy and employs more than 500 people, with annual sales of £36 million.

RSE

Highland-based RSE designs, manufactures and commissions drinking water, wastewater and industrial treatment systems. The company employs around 2,000 people and generated annual sales of £307 million.

Shot Scope

Livingston sports technology company Shot Scope develops products that track and analyse golfers’ performance. Its technology is used by more than 400,000 golfers in over 160 countries, while sales reached £11 million.

Simple Online Healthcare

Glasgow-founded Simple Online Healthcare combines online assessment, prescribing, dispensing and medicine delivery. Operating across four countries, it has supported more than one million patients and reported annual sales of £155 million.

Snappy Shopper

Dundee-based Snappy Shopper supplies online ordering and delivery technology to independent retailers and larger grocery brands. Its platform processes more than £130 million in annual transactions, while the business reported sales of £10.2 million.

Strathberry

Founded in Edinburgh in 2013, Strathberry designs luxury handbags and accessories in Scotland and manufactures them in Spain. The company sells to customers in more than 100 countries and generated annual sales of £36.4 million.

Sulmara

Glasgow-based Sulmara collects and analyses seabed data for offshore energy and utility customers. The company uses technologies including uncrewed surface vessels and autonomous underwater vehicles, and reported annual sales of £60.8 million.

Texo Group

Founded in Aberdeen in 2018, Texo Group provides engineering, fabrication, asset integrity and surveying services for energy, renewables and marine projects. The company returned to profit in 2024 and recorded annual sales of £66.9 million.

Union Technical Services

Glasgow-based Union Technical Services installs insulation, solar panels, heat pumps and heating systems, including through fuel-poverty and energy-efficiency programmes. The family-run company generated annual sales of £47.2 million without external investment.

Utopi

Founded in Glasgow in 2019, Utopi uses smart sensors to monitor energy and environmental performance in multi-tenant buildings. Its technology is deployed across 13 countries and more than 70,000 spaces, with annual sales of £7 million.

Vieve

Founded in 2020 by make-up artist Jamie Genevieve, Glasgow-based Vieve sells cosmetics online, through retail partners and from its own store. The company has raised more than £18 million and recorded annual sales of £9.3 million.

Waracle

Dundee digital product consultancy Waracle began as a spin-out from Abertay University and now employs 291 people. The company has returned to profitability and double-digit growth, reporting annual sales of £22.7 million.