IW Capital Co-Leads $11m Series B Investment in MAGIC AI

We’re delighted to announce that IW Capital has co-led an $11m Series B funding round into MAGIC AI, alongside Beringea, with participation from PXN Group, Accelerate Ventures, Active Partners and Ventures Together.

MAGIC AI has built a smart mirror that merges computer vision with holographic coaching to deliver real-time feedback and personalised workouts at home. At the heart of the product is its proprietary ReflectAI® technology, which tracks motion, corrects form, counts reps and coaches users through more than 1,000 exercises, giving people the guidance of a personal trainer without leaving their living room.

The numbers behind MAGIC AI show a business already operating at scale. Users have completed more than 500,000 AI-coached workouts and logged over 150,000 hours on the platform, and in doing so have helped MAGIC AI build the most extensive AI fitness dataset in the world. That data is a powerful asset, continuously sharpening the accuracy and personalisation of the coaching experience.

This round is also the largest AI fitness funding round in Europe this year, a clear signal of investor confidence in the company and the wider category.

Next stop: the United States

The Series B investment will fuel MAGIC AI’s expansion into the US, opening up access to a $35 billion AI fitness market. With a proven product, strong engagement and a data advantage that grows with every workout, MAGIC AI is well placed to make its mark on one of the world’s biggest fitness markets.

We’re proud to have backed MAGIC AI since its Series A, having recognised the scale of its potential early on. Seeing the business reach this milestone is exactly why we do what we do, and we look forward to supporting the team through its next chapter.

Huge congratulations to our Senior Investment Director David Fisher, MAGIC AI Co-Founder & CEO Varun Bhanot, and the entire MAGIC AI team.