Fitness mirror MAGIC AI raises Series B to scale in US. Transatlantic investor Beringea leads £8m round after its posted 342% annual growth, with US community surpassing 18,000 across all 50 states MAGIC AI, the business behind the MAGIC AI Mirror, has closed an £8 million Series B round to scale in the United States and capitalise on the surging AI fitness market. The round is believed to be the largest funding round for an AI fitness company this year, and arrives as MAGIC AI is named the fourth fastest-growing hardware company by The Sunday Times. The business has posted 342% annual growth, supported by rapid expansion in the US with a community already spanning 18,000+ members across all 50 states. It takes total funding to $20m. The Mirror merges computer vision with holographic coaching to deliver real-time feedback and personalised workouts at home. Its proprietary ReflectAI technology tracks motion, corrects form, counts reps and coaches users through more than 1,000 exercises. The product has logged over 500,000 AI-coached workouts across 150,000 hours - which the company believes to be the largest AI dataset of its kind. The round was co-led by Beringea, the transatlantic venture capital firm. Beringea has substantial experience in successfully scaling consumer brands from Europe into the US, including the likes of Monica Vinader, MOTH, and Papier. Co-leading alongside it is IW Capital, an existing backer increasing its stake. IW Capital is a venture capital firm investing in high-growth SMEs. The firm backs ambitious entrepreneurs building brilliant technology businesses across the UK. To date, IW Capital has invested more than £188m into companies including Strolll, Lucida Medical, Alesi Surgical and Navigator. The former managing director of Peloton International, CCO and former head of operations are joining the fast-growing team too. They are joined by PXN Group, Accelerate Ventures, and Ventures Together. Active Partners, the consumer investment firm behind Soho House, LEON, the cycling brand Rapha and the $100m+ wellness retailer Healf, also joins the round. The MAGIC AI Mirror was named one of TIME Magazine's Best Inventions of 2024 and was a recipient of the King's Award for Enterprise in the Innovation category in 2026 - joining Dyson, Rolls Royce and ARM - with King Charles himself giving the AI company his Royal Seal of Approval this year. Celebrity athletes appear as 'holograms' on the mirror, morphed by generative AI and computer vision into personal trainers who coach and respond in real time in the user's living room. The roster includes former Manchester United and England forward Jesse Lingard, former England cricket captain Sir Alastair Cook, and Strictly Come Dancing's Katya Jones. "This round is about two things: America will make up most of our business by next year, and going far deeper into the data layer behind ReflectAI, so that the Mirror does not just count what a user does but understands how they are progressing over time," said founder and CEO Varun Bhanot, who was included on our inaugural Founder 250 list this year. "We're thrilled to have such strategic investors on board for our expansion." Emma Biasiolo, investment director at Beringea, commented: "MAGIC AI is one of those businesses where the momentum was immediately obvious to us - customers love the product and it's hitting a real shift in the needs and preferences of consumers who have moved towards a hybrid workout style post-COVID. We've been in touch with Varun over the last few years and have been impressed with his infectious energy and relentless drive. "Building on the existing traction in the UK - alongside attractive unit economics and incredible growth - we see significant potential for further expansion in the US, which we are excited to support."

IW Capital co-leads $11m Series B investment in MAGIC AI. IW Capital Ltd is delighted to announce that IW Capital has co-led an $11m Series B funding round into MAGIC AI, alongside Beringea, with participation from PXN Group, Accelerate Ventures, Active Partners and Ventures Together. MAGIC AI has built a smart mirror that merges computer vision with holographic coaching to deliver real-time feedback and personalised workouts at home. At the heart of the product is its proprietary ReflectAI(R) technology, which tracks motion, corrects form, counts reps and coaches users through more than 1,000 exercises, giving people the guidance of a personal trainer without leaving their living room. The numbers behind MAGIC AI show a business already operating at scale. Users have completed more than 500,000 AI-coached workouts and logged over 150,000 hours on the platform, and in doing so have helped MAGIC AI build the most extensive AI fitness dataset in the world. That data is a powerful asset, continuously sharpening the accuracy and personalisation of the coaching experience. This round is also the largest AI fitness funding round in Europe this year, a clear signal of investor confidence in the company and the wider category. Next stop: the United States The Series B investment will fuel MAGIC AI's expansion into the US, opening up access to a $35 billion AI fitness market. With a proven product, strong engagement and a data advantage that grows with every workout, MAGIC AI is well placed to make its mark on one of the world's biggest fitness markets. IW Capital Ltd is proud to have backed MAGIC AI since its Series A, having recognised the scale of its potential early on. Seeing the business reach this milestone is exactly why IW Capital Ltd do what IW Capital Ltd do, and IW Capital Ltd look forward to supporting the team through its next chapter. Huge congratulations to its Senior Investment Director David Fisher, MAGIC AI Co-Founder & CEO Varun Bhanot, and the entire MAGIC AI team. Find US. IW Capital Ltd 42 Bruton Place Get in touch. Useful links. Get social.

Magic AI has secured $11 million in new funding, bringing its total raised since 2023 to about $20 million. Beringea and IW Capital co-led the round, with participation from PXN Group, Accelerate Ventures, Ventures Together, and new backer Active Partners, which previously backed Soho House, Rapha, and Leon. The London-based startup produces a wall-mounted screen that uses computer vision to correct form and count repetitions. It features hologram trainers including former England cricket captain Sir Alastair Cook and former Manchester United winger Jesse Lingard. Magic AI plans to use the funds to expand into the US market, where rival fitness-mirror companies have faced challenges. Lululemon shut down its Mirror business, and Tonal's valuation reportedly dropped from $1.9 billion to $500 million.