MAGIC AI, the company behind the MAGIC AI Mirror, has secured an $11 million Series B funding round to accelerate United States expansion and deepen its artificial intelligence capabilities. The round was co-led by transatlantic venture capital firm Beringea and existing investor IW Capital, bringing total funding to $20 million. This investment positions MAGIC AI to capitalize on growing demand for AI-powered home fitness experiences.
Growth trajectory in the AI fitness market
MAGIC AI says the United States will become the majority of its business by next year as it scales operations and community engagement. The company attributes its rapid growth to shifting post-COVID consumer habits that favor hybrid workout models at home and in gyms. Investors view this shift as a long-term tailwind for AI-enabled fitness hardware and recurring digital coaching experiences.
Strong US momentum and product traction
The company has reported 342 percent annual growth and was recently named the fourth fastest-growing hardware company by The Sunday Times. Its community already spans more than 18,000 members across all 50 U.S. states, supported by rapid international momentum. MAGIC AI believes the Series B round is the largest funding round for an AI fitness company this year.
Technology and market validation
The MAGIC AI Mirror combines computer vision with holographic coaching to deliver real-time feedback and personalized workouts at home. Its proprietary ReflectAI technology tracks motion, corrects form, counts repetitions, and coaches users through more than 1,000 exercises. The product has logged over 500,000 AI-coached workouts across 150,000 hours, which the company considers the largest AI dataset of its kind.
Investor backing and strategic hires
Beringea brings substantial experience scaling European consumer brands into the United States, including Monica Vinader, MOTH, and Papier. IW Capital increased its existing stake, while Active Partners, PXN Group, Accelerate Ventures, and Ventures Together also joined the round. Former senior leaders from Peloton International, including a managing director and chief commercial officer, are joining the team to support U.S. growth.
Recognition and celebrity coaching roster
The MAGIC AI Mirror was named one of TIME Magazine's Best Inventions of 2024 and received the King's Award for Enterprise in the Innovation category. The company joined previous recipients such as Dyson, Rolls Royce, and ARM, with King Charles giving his Royal Seal of Approval this year. Celebrity athletes including Jesse Lingard, Sir Alastair Cook, and Katya Jones appear as holographic trainers powered by generative AI and computer vision.
Leadership comments
Varun Bhanot, Co-Founder and CEO, said the round focuses on two priorities: making the United States most of the business by next year and deepening the data layer behind ReflectAI. He said the company is thrilled to have strategic investors onboard for expansion. Emma Biasiolo, Investment Director at Beringea, said MAGIC AI has obvious momentum, customer love, and attractive unit economics with significant U.S. potential.
With this Series B funding, MAGIC AI is positioned to scale its U.S. presence and build on a proprietary AI dataset that continues to grow. The company's ability to combine hardware innovation, holographic coaching, and high-profile athlete partnerships gives it a distinct position in the hybrid fitness market. As consumer preferences shift toward personalized home training, MAGIC AI's expansion strategy and investor backing signal a pivotal phase of commercial growth.