MAGIC AI, the London-based AI fitness company, has raised £8.3M in a Series B co-led by transatlantic venture firm Beringea and existing backer IW Capital, with PXN Group, Accelerate Ventures, Ventures Together and Active Partners also participating.
At-home personal training has long faced a straightforward problem: the cost of one-to-one coaching puts quality instruction out of reach for most people, while standard gym memberships offer little personalised feedback. MAGIC AI was built on the argument that computer vision can close that gap, replicating the guidance of a skilled trainer through a camera-driven mirror on the user's wall.
The MAGIC AI Mirror runs ReflectAI®, the company's proprietary computer vision system, which tracks movement, corrects form, counts reps and coaches users through more than 1,000 exercises — no wearables or sensors required. A generative AI layer renders celebrity athletes, among them former England forward Jesse Lingard, former England cricket captain Sir Alastair Cook and Strictly Come Dancing's Katya Jones, as interactive on-screen coaches who respond in real time to how the user is moving. The Mirror is sold direct-to-consumer in the UK and US and stocked at Selfridges, Westfield and Decathlon.
The company has now logged more than 500,000 AI-coached workouts across 150,000 hours, grown a community of over 18,000 members across all 50 US states and the UK and posted 342% annual growth. MAGIC AI was named one of TIME Magazine's Best Inventions of 2024, ranked fourth fastest-growing hardware company by The Sunday Times and received the King's Award for Enterprise in the Innovation category in 2026. The round takes total funding to £15M and is believed to be the largest raised by an AI fitness company so far this year, in a global AI fitness market estimated to be worth $35 billion.
The capital will fund US expansion — co-founder and CEO Varun Bhanot has said America will account for most of the business within a year — and investment in the ReflectAI® data layer, so the Mirror builds a picture of how each user progresses over time rather than simply logging activity. The former managing director of Peloton International, along with the company's former CCO and former head of operations, are joining the MAGIC AI team. Beringea's Emma Biasiolo cited strong unit economics and the post-COVID shift towards hybrid workout habits as key factors in the investment; IW Capital, which first backed MAGIC AI in 2024, said the company's direct-to-consumer growth since its initial cheque had been "extremely rapid."
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