MAGIC AI funding news – London-based MAGIC AI has Secured €4.8 Million in Funding

Varun Bhanot, Co-founder and CEO of MAGIC AI, commented: “AI has evolved chatbots and image generation, but areas such as using it to train in health and wellness are yet to be disrupted. We are proud to have developed the largest exercise tracking detection software of its kind to lead this charge. We have changed the lives of 1,000s of customers over the last 18 months who have collectively logged 46,000 hours of personal training using our innovative AI Mirror and we plan to 5x this over the next year.”

The funding round also attracted executives from companies like TikTok, Meta, Spotify, Citymapper, JustPark, and Stripe. The MAGIC Mirror is a fitness mirror that uses AI technology, ReflectAI®, to provide personalized workout experiences.

The MAGIC Mirror has features that make personal training easier for more people. Its AI tracks user posture, range of motion, and pace, offering real-time audio and visual feedback to improve performance.

Users can customize their workouts to reach specific goals, track progress like calories burned, reps completed, and overall improvement, and access a variety of workout plans tailored to their needs.

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The MAGIC Mirror also includes training programs and content endorsed by celebrities like Sir Alastair Cook, Team GB Olympic champion Desiree Henry, and Strictly Come Dancing’s Katya Jones.

According to MAGIC AI, the home fitness market is growing quickly. The global market for fitness equipment is expected to reach €15.8 billion by 2030, while the digital fitness and well-being market is predicted to be worth €55.9 billion in 2024.

Tariq Attia, CEO of IW Capital, added: “We’re pleased to have led this round of investment into MAGIC AI as it serves the home fitness market with its unique and proprietary AI fitness technology. The company has shown a strong performance to date, with a loyal user base, a unique technology proposition and an exciting roadmap ahead. We look forward to supporting MAGIC AI as it scales and continues to target the growing home-fitness market.”

Magic AI’s model could change the way fitness is done, making personalized training more accessible. By reducing the need for personal trainers and gyms, the Magic Mirror provides a more scalable way to access fitness. However, this shift raises concerns about how it will affect traditional fitness services and the role of AI in personal health routines.

UK startup MAGIC AI has raised €4.8 million in funding led by IW Capital, with support from Baleen Capital, SFC Capital, and Ventures Together. The funds will be used to expand the “world’s first” AI-powered fitness mirror and grow into new markets, including the United States.

About Magic AI

Magic AI’s model could change the way fitness is done, making personalized training more accessible. By reducing the need for personal trainers and gyms, the Magic Mirror provides a more scalable way to access fitness. However, this shift raises concerns about how it will affect traditional fitness services and the role of AI in personal health routines.