MAGIC AI, the company behind the MAGIC AI Mirror home fitness system, has closed an $11 million (£8 million) Series B round to scale up in the United States.
The round was co-led by transatlantic venture capital firm Beringea and existing backer IW Capital, which is increasing its stake. PXN Group, Accelerate Ventures, Ventures Together and consumer investment firm Active Partners also joined. The round takes the company’s total funding to $20 million.
The Mirror combines computer vision with holographic coaching to deliver real-time feedback and personalised workouts at home. Its proprietary ReflectAI technology tracks motion, corrects form, counts repetitions and coaches users through more than 1,000 exercises. Celebrity athletes appear on the mirror as “holograms”, created with generative AI and computer vision, acting as personal trainers who coach and respond in real time. They include former England footballer Jesse Lingard, former England cricket captain Sir Alastair Cook and Strictly Come Dancing’s Katya Jones.
The product has logged more than 500,000 AI-coached workouts across 150,000 hours, which the company believes is the largest AI dataset of its kind. MAGIC AI reports 342 per cent annual growth and a US community of more than 18,000 members across all 50 states.
The Mirror was named one of TIME Magazine’s Best Inventions of 2024 and received a King’s Award for Enterprise for Innovation in 2026. The company has also been named the fourth fastest-growing hardware company by The Sunday Times.
Beringea said it has experience scaling European consumer brands in the US, including Monica Vinader, MOTH and Papier.
Varun Bhanot, co-founder and chief executive of MAGIC AI, said: “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. We’re thrilled to have such strategic investors on board for our expansion.”
Emma Biasiolo, investment director at Beringea, said: “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.”
She added: “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.”
