Magic AI Secures $5M to Supercharge Home Fitness with AI-Powered Mirror
London-based Magic AI has raised $5 million in its latest funding round. This round signals a significant step forward for its flagship product, the Magic AI Mirror. The round, led by IW Capital, follows a $2.5 million investment last summer and included contributions from notable venture firms such as Baleen Capital, SFC Capital, Ventures Together, and angel investors from Spotify, TikTok, and Meta.
The Magic AI Mirror, a new fitness device leveraging AI, uses holographic technology to monitor body position, movement, and form, offering a highly personalized fitness experience. It has already garnered widespread recognition, earning a spot on TIME’s 200 World’s Best Inventions list and endorsements from sports icons like Sir Alastair Cook, Desiree Henry, and Katya Jones.
A Growing Fitness Innovation
The AI-powered mirror serves as a complete gym and personal trainer, featuring over 100 classes and personalized workout programs. Users can choose to purchase optional equipment such as adjustable dumbbells and an incline bench or use their own.
Membership is free, and the device updates its content and features biweekly, ensuring a continually evolving fitness experience. Each mirror can accommodate up to five user accounts, making it ideal for households.
“We’re delighted to be backing a company that is helping millions of people, who may otherwise not be able to access, or afford, personal training, to achieve their fitness goals,” IW Capital shared in a LinkedIn announcement.
Milestones and Vision
In a LinkedIn post, co-founder Varun Bhanot expressed his excitement over the funding and shared the challenges of balancing personal and professional milestones. “It’s difficult to put into words what an exhausting & stressful year it’s been,” he wrote. “Having our first baby & kicking off this second VC raise all in the same year! I started drafting our funding deck in the hospital labor ward last November.”
Despite the challenges, Magic AI has achieved significant milestones within its first year, including acquiring over 5,000 customers across 38 countries. The company has also developed ReflectAI, the world’s largest computer vision dataset for form tracking.
Industry Impact and Competition
Magic AI isn’t the only company making waves in the fitness technology sector. Competitors like Aeke, a sports tech brand, are also innovating with products such as the Smart Home Gym K1, an AI-driven, auto-foldable fitness mirror. Set to launch on Kickstarter next month, the K1 offers advanced health analytics and tailored fitness recommendations.
What’s Next for Magic AI?
The $5 million investment will enable Magic AI to scale its operations and further enhance its product offerings. By combining cutting-edge AI technology with accessible fitness solutions, the company aims to redefine how people approach home workouts.
With a growing customer base and support from influential investors, Magic AI Mirror is poised to lead the next wave of fitness innovation, making high-quality training accessible to users around the globe.
