Scotland has fastest-growing tech firm in Deloitte UK Fast 50 – Scottish Business News

Glasgow-based environmental technology company Utopi has been named Scotland’s fastest-growing tech firm, securing the 18th position overall in the prestigious Deloitte UK Technology Fast 50 rankings for 2024.

The company, which specialises in ESG (Environmental, Social, and Governance) solutions for the real estate sector, achieved an impressive three-year growth rate of 2,156%.

Jonathan Burridge, CEO and Co-Founder of Utopi, expressed his enthusiasm about the achievement. He commented: “As a multi-award winning brand, every award has stature for our business and our team, but this one is of particular importance to Utopi and the ongoing growth of our business. Showcasing 1,400% growth is something we are immensely proud of, and as we move from year 4 to 5, we feel this is only the beginning”.

Utopi’s innovative platform integrates analytics for monitoring building performance, energy control tools to reduce consumption, and a resident engagement app that promotes environmentally conscious behaviour.

This unique approach has positioned Utopi as a leader in the UK market, particularly in the student accommodation and residential properties sectors. The company’s success story is not just about numbers. Burridge highlighted the strategic shift that contributed to their growth: “We recognised early on that to make a real impact, we had to address the growing demand for sustainability in residential properties. The timing was right to reposition ourselves within the ESG landscape.”

Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme, commented on the significance of the awards:

“The impressive growth amongst this year’s Fast 50 companies demonstrates the continued tenacity of the UK’s technology industry, despite ongoing economic headwinds, as it cements itself amongst the top locations for venture capital investment globally.”

Utopi’s journey has been marked by significant milestones, including raising £6.42m across three funding rounds and successfully installing its platform in 12 buildings in 2021 and 2022.