MMagic AI Fitness sells a wall-mounted AI fitness mirror that uses computer vision to track movement, correct form, and count reps, with holographic trainer avatars. It pairs the mirror with adjustable smart dumbbells for at-home strength training, enabling workouts without a full gym. The system streams coach avatars and athlete partners and offers coaching content across sports and wellness formats, sold direct-to-consumer with home delivery. Its goal is to grow in the United States and expand AI-guided fitness and sport-specific coaching to a larger audience.
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Industries
Company Size
51-200
Company Stage
Early VC
Total Funding
$20.2M
Headquarters
Chigwell, United Kingdom
Founded
2021
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Founder 250 weekly wrap: Magic AI, Omni and Street Group. Magic AI tops Deloitte's Fast 50, Dragons' Den success Omni opens its first office and £200m Street Group steps up recruitment Listen to article As part of a weekly series, BusinessCloud is highlighting the latest developments from companies featured in our Founder 250 list. The UK-wide list celebrates 250 of the country's leading founder-led and founder-influenced businesses. RSM UK is the headline sponsor of Founder 250, alongside law firm CG, property specialist OBI and investor Mercia Ventures. 1. Dragons' Den success Omni celebrates opening first office. Pet nutrition pioneer Omni finally has an office to call its own. Founded by veterinarian Dr Guy Sandelowsky and former finance executive Shiv Sivakumar, Omni has gone from strength to strength since appearing on Dragons' Den in February 2025. The pair secured investment from Deborah Meaden and Steven Bartlett at a valuation of £3m. Sandelowsky said: "We just moved into our first office. "After years of remote working, countless video calls and meeting up wherever we could find space, we've finally got our first office in Hackney, East London. "Somewhere to call home, bring the team together, bounce ideas around and just enjoy spending time together in real life." 2. Magic AI crowned UK's fastest-growing tech company. Fitness technology company Magic AI has been named the UK's fastest-growing technology company in the 2026 Deloitte UK Technology Fast 50 awards after achieving revenue growth of 19,774 per cent over three years. The awards recognise and rank the 50 fastest-growing technology companies in the UK based on revenue growth over a three-year period. The prestigious ceremony took place on Thursday, 5 November, at the Park Hyatt London River Thames. Founded in 2022, London-based Magic AI has developed an AI-powered smart fitness mirror that uses proprietary computer vision technology, real-time body tracking and personalised coaching to deliver interactive home workouts and virtual personal training. Varun Bhanot, co-founder and CEO of Magic AI, said: "Being ranked No.1 in Deloitte's UK Technology Fast 50 is an incredible honour and a testament to the team behind Magic AI. "I started this company after experiencing how life-changing personal training could be, but also how inaccessible it was for so many people. "Today, we've helped transform the lives of over 30,000 people across 43 countries, with more than 500,000 AI-coached workouts completed. And we're only just getting started." 3. Street Group goes on recruitment spree following £200m valuation. Manchester PropTech Street Group has appointed Cecile Wetter-Green as talent acquisition lead as it embarks on its latest recruitment spree. The appointment follows a multi-million-pound investment in July from private equity investor Hg, which valued the business at more than £200m. Founded by siblings Tom and Heather Staff in 2015, the fast-growing software company has achieved 100 per cent growth and now employs 230 people. Manchester PropTech Street Group has appointed Cecile Wetter-Green as talent acquisition lead as it embarks on its latest recruitment spree Wetter-Green previously worked at Multiverse, the apprenticeship technology unicorn founded by Euan Blair. Other recent appointments include Reece Binder and Rowan Gibson as sales development representatives; David Law as lead product designer; Costas Frangeskou as head of partnerships; Mike Booth as head of data sales; and Luke Palethorpe as governance, risk and compliance lead. 4. EdTech Angel Solutions celebrates 27 years in business. Liverpool-based EdTech company Angel Solutions has celebrated its 27th birthday. The business was founded in 1999 by Andy Kent and provides assessment and analysis tools to the education sector. The company is known for doing things a little differently, with a circus-themed office and Kent described as its 'chief executive and ringmaster'. Angel Solutions marked its 27th birthday on October 27. 5. Acquisitive IT firm commited appoints CFO amid £100m ambition. Commited, the North West's largest privately held IT support provider, has strengthened its senior leadership team with the appointment of Anja Berg as chief financial officer. Berg joins from technology services provider Babble and brings extensive experience in financial leadership, business growth and M&A. The appointment comes as commited builds on a period of significant growth through acquisition and continues to pursue its ambition of becoming a £100m business. Ian Hudson, CEO of commited, said: "Anja joins us at an important point in that journey. Strong financial leadership is fundamental to delivering our ambitions, and we're delighted to welcome her to the team." 6. Growing Panache Cruises recruits trio of specialists. Luxury cruise retailer Panache Cruises has made three new appointments as it continues to scale. Headquartered in Chorley, the company was founded by James Cole in 2020 and has grown to more than 100 staff, with international offices in the US and Australia. Panache recently made a six-figure investment in Chester-based Vedere Travel as part of a wider strategy to expand into other areas of the travel industry. As part of its continued growth, Alyson Page has joined as financial controller, Ben Houghton has been appointed data analyst and Jade Hegarty is the new sales training and development manager. CEO James Cole, who was included in BusinessCloud's 2026 Northern Leaders list, said: "These appointments reflect where we are as a business. As we scale, we need specialists."
Magic AI crowned UK's fastest-growing tech company. London-based FitTech company, founded by Varun Bhanot, tops Deloitte's UK Technology Fast 50 after achieving after 19,774% growth Listen to article Fitness technology company Magic AI has been named the UK's fastest-growing technology company in the 2026 Deloitte UK Technology Fast 50 awards after achieving revenue growth of 19,774 per cent over three years. The awards recognise and rank the 50 fastest-growing technology companies in the UK based on revenue growth over a three-year period. The prestigious awards ceremony took place on Thursday, 5 November, at the Park Hyatt London River Thames. Founded in 2022, London-based Magic AI has developed an AI-powered smart fitness mirror that uses proprietary computer vision technology, real-time body tracking and personalised coaching to deliver interactive home workouts and virtual personal training. Varun Bhanot, co-founder and CEO of Magic AI, said: "Being ranked No.1 in Deloitte's UK Technology Fast 50 is an incredible honour and a testament to the team behind Magic AI. "I started this company after experiencing how life-changing personal training could be, but also how inaccessible it was for so many people. "Today, we've helped transform the lives of over 30,000 people across 43 countries, with more than 500,000 AI-coached workouts completed. And we're only just getting started." South East-based Dexory ranked second in this year's Fast 50, recording three-year revenue growth of 17,687 per cent. The robotics and AI warehouse intelligence company uses autonomous robots, real-time data capture and analytics to help logistics and supply chain operators improve inventory accuracy, warehouse visibility and operational efficiency. Dexory also topped the Women in Leadership category, which recognises companies in the Technology Fast 50 that are either led by a female CEO or have a woman in their founding team. The 2026 Fast 50 winners achieved an average three-year growth rate of 2,824 per cent and generated combined revenues of £727m in 2025/26, highlighting the continued growth and economic contribution of the UK's technology sector. Showcase. Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme, said: "The Fast 50 continues to showcase some of the UK's fastest growing and most innovative technology companies. "This year's winners demonstrate the ambition and resilience of the UK technology sector, with businesses continuing to innovate, scale and pursue growth amid a challenging economic backdrop. "This year's 50th-placed company recorded growth of 708 per cent, the highest threshold for entry into the Fast 50 since 2021, underlining the strength of this year's cohort. "Congratulations to Magic AI and all of this year's Fast 50 companies. Their success reflects the strength of the entrepreneurs and teams behind these businesses, and the important contribution that fast-growing technology companies make to innovation, jobs and economic growth across the UK." London dominates. London continues to dominate the Fast 50, with two-thirds (66 per cent) of the companies headquartered in the capital. However, there were standout performances from businesses across the UK, with Cambridgeshire and the East, the South East, and the South West and Wales each producing three Fast 50 winners. Glasgow-based Phlo ranked ninth, with three-year revenue growth of 3,846 per cent. The healthcare and life sciences company develops digital healthcare solutions that help brands deliver safe, seamless care at scale. Cardiff-based Finalrentals ranked 14th, with three-year revenue growth of 2,865 per cent. The company operates BLADE, an AI-powered booking platform that helps customers find and book car rentals worldwide. London-based Sunsave Group Limited, which ranked fourth, topped the CleanTech category, recognising climate technology companies for their contribution to the UK's net zero target. The renewable energy company designs, installs and maintains residential solar panel and home battery systems.
MAGIC AI shortlisted for Sports Tech Company of the Year. IW Capital Ltd is delighted to share that MAGIC AI has been shortlisted for Sports Tech Company of the Year at the 2026 GP Bullhound Allstars Awards, often referred to as "the Oscars of the tech world." Now in its 24th year, Allstars celebrates the founders, investors and companies shaping European technology. This year's shortlist was drawn from a record field of over 90 nominees across 15 categories, with MAGIC AI named as one of just 10 companies in the Sports Tech Company of the Year category, sponsored by SportsTechX. The nomination is a testament to what MAGIC AI has built. Its Fitness Mirror combines computer vision and connected weights to deliver real-time form correction, rep counting and personalised feedback, offering a smarter, more personal way to train at home. It's a product that brings the expertise of a personal trainer into the living room, and this recognition places MAGIC AI among the most exciting sports technology companies in Europe. Having backed MAGIC AI since its Series A, IW Capital Ltd is delighted to see the team's work recognised on such a prominent stage. Huge congratulations to the whole MAGIC AI team, and best of luck at the awards!
Magic AI raises $11M to scale Fitness Mirror in the US. Published: September 24, 2026 1/3 free articles used this month. Years after Lululemon pulled the plug on Mirror, the London startup plans to win over U.S. consumers with AI form correction and a cheaper alternative to personal training Magic AI, a startup behind an AI-powered fitness mirror, has raised $11 million to expand in the United States, stepping into a market where Lululemon lost hundreds of millions of dollars. Beringea and IW Capital co-led the Series B round, with Active Partners, PXN Group, Accelerate Ventures, Doorway and Ventures Together joining, bringing Magic AI's total funding to about $20 million. Among Magic AI's shareholders is a familiar face from the connected fitness boom: Kevin Cornils, Peloton's former chief commercial officer, The Times reported. Magic AI plans to put part of the funding into its software, with the goal of understanding how they progress over time. "I believe it's one of the largest consumer AI deals in the U.K. this year," Magic AI co-founder and CEO Varun Bhanot wrote on LinkedIn, adding that the U.S. will become most of Magic AI's business next year. The company brought in £10.7 million in revenue last year, or about $14.3 million, according to The Times. "This is the backing to scale up there as our community surpasses 20,000+ members across all 50 states," he added. It wouldn't be the first time the U.S. has seen a fitness mirror. Lululemon paid $500 million for the connected fitness company Mirror in 2020, at the height of the pandemic home-workout boom. By 2023, it had taken a $443 million impairment charge, reportedly failed to find a buyer even at a steep discount, laid off about 100 employees in its Lululemon Studio division and discontinued the device. Forme, which pairs a smart mirror with personal training, went public in April 2023 through a $12 million IPO and saw its shares fall 67% within six months. Its parent, Interactive Strength, has become an acquirer of premium fitness brands, selling Forme alongside Wattbike indoor bikes, Ergatta rowers and Clmbr climbers, and it is in the process of buying Stepr, a connected stair climber. In a shareholder letter published this week, Interactive Strength reported record quarterly revenue of $6.6 million, up 445% from a year earlier. It credited nearly all of that growth to its acquisitions of Wattbike and Ergatta. The letter doesn't discuss Forme's performance. Alter, a U.S. startup founded by Scott Cohen and Blake Johnson, launched its own mirror system tied to DNA testing and a wearable in 2024. According to its website, consumers can select between two membership tiers and add on the AlterMe Smart Fitness Mirror for $800. Echelon also has its own version of a smart mirror, the Echelon Reflect fitness mirror, which offers live and on-demand classes. Magic AI is intended for people who find the gym intimidating, Bhanot told The Times. The mirror uses sensors to track users as they exercise and corrects their form in real time. Its holographic trainers include former Manchester United and England soccer player Jesse Lingard, former England cricket captain Sir Alastair Cook and "Strictly Come Dancing" professional Katya Jones. "What appeals to consumers is the accessibility," Bhanot told the publication, adding that customers are also "time poor." "The cost of personal training, which is what we replace, is too expensive," he added. "The national average is £50 an hour. Our mirror replicates that entire experience for people in the comfort of their own home." In the U.S., the mirror is listed on Magic AI's website at $1,499, marked down from $1,999. A set of adjustable dumbbells can be added for $599 or a dumbbell-and-bench bundle for $899. The mirror doesn't require a subscription. Buyers get lifetime access to its library of classes, which spans strength, HIIT, yoga, Pilates, dance and boxing workouts and adds new content weekly, under a limited-time. An optional tier, Magic+, adds personalized weekly plans and custom workouts starting at £16.58 a month, or about $22.
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."
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Industries
Company Size
51-200
Company Stage
Early VC
Total Funding
$20.2M
Headquarters
Chigwell, United Kingdom
Founded
2021
Find jobs on Simplify and start your career today
Don't see your dream role? Check out thousands of other roles on Simplify.Browse all jobs