Three Scottish companies were highlighted in the Sunday Times ranking of the UK’s fastest-growing tech companies.

The new 100 Tech list from the Sunday Times ranks Britain’s top contending private tech companies, with the inaugural list featuring three Scottish firms.

Utopi, a Glasgow-based smart sensors firm, was named as Scotland’s fastest-growing technology company. The company was also featured in Deloitte’s 2024 round up of fast-growing tech firms.

The firm offers data management solutions for asset managers, estate investors, and operators. The company gained traction with its analytics devices which track energy usage, aiming to help users manage their costs and reach sustainability goals.

Founded by Ben Roberts, Falk Bleyl, John Trower, and CEO Jonathan Burridge, the company had sales reaching £6m in 2024, with 100,000 devices installed across the globe.

Skyrora, the Glasgow-based rocket firm preparing for a launch at SaxaVord spaceport, was also featured on the list.

In 2022, the space firm built the largest rocket engine manufacturing facility in the country at the time.

Safer Group, based in Port Glasgow, is a site security technology company that rounded out Scotland’s contribution to the top 100 list, and was ranked the 20th fastest-growing tech firm in the country.

The firm launched a new office in Inverclyde this year, after its first international expansion in 2023.

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In order to qualify for the list, companies must have been independent and privately owned, as well as headquartered in the UK.

Most of the companies were based in London (56), and less than a fifth were founded or are led by a woman (17).

According to the research, which was conducted in collaboration with Beauhurst, the companies collectively generated £3.2bn in sales, an increase of £2.6bn from three years ago.

In total, the companies employee about 20,700 people, with 11,200 new jobs created in just the last three years.

Beauhurst, which provides data of private companies, also found that over 90 of the featured companies gained some external investment, totally to £10bn, with large individual amounts contributing greatly to the figure.