Beringea and IW Capital Co-Lead MAGIC AI’s £8M Series B
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MAGIC AI has closed an £8 million Series B to grow in the United States. Transatlantic venture firm Beringea co-led the round with existing backer IW Capital, which increased its stake. PXN Group, Accelerate Ventures, Ventures Together and Active Partners also joined, and the company’s total funding now stands at $20 million.
MAGIC AI is based in London, in the UK. It makes the MAGIC AI Mirror, a fitness device that combines computer vision with holographic coaching to give real-time feedback and personalised workouts at home.
The company’s ReflectAI technology tracks motion, corrects form, counts reps and coaches users through more than 1,000 exercises. The mirror has logged more than 500,000 AI-coached workouts across 150,000 hours, which MAGIC AI believes is the largest dataset of its kind. Celebrity athletes appear as holograms that coach users in real time, including Jesse Lingard, Sir Alastair Cook and Katya Jones.
MAGIC AI has posted 342% annual growth, and its U.S. community already includes more than 18,000 members across all 50 states. The round is believed to be the largest for an AI fitness company this year, and The Sunday Times named MAGIC AI the fourth fastest-growing hardware company. The mirror was one of TIME’s Best Inventions of 2024 and received a King’s Award for Enterprise in Innovation in 2026.
The company is also adding senior talent, with the former managing director of Peloton International, a CCO and a former head of operations joining the team. Varun Bhanot is founder and CEO.
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