MAGIC AI raises £4m in a seed round led by IW Capital to scale operations
IW Capital led the seed investment round to help the fitness technology developer scale operations and expand into new markets.
Magic AI develops advanced fitness technology including the award-winning holographic fitness mirror. The company combines artificial intelligence with elite coaching to deliver personalised home workouts.
MAGIC AI has secured £4m in seed funding to support its expansion plans and scale operations. The investment round was led by IW Capital, with participation from Baleen Capital, SFC Capital, and Ventures Together. A number of senior executives from major technology firms also contributed to the raise.
The company produces the MAGIC Mirror, a hologram video enabled workout device that uses proprietary artificial intelligence to monitor user posture and technique. Funds from the latest round will be directed towards growing operations and entering new international markets, including the United States.
From the founder
"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."
Varun Bhanot
Co-Founder and CEO at MAGIC AI
Use of funds
- 01Scale operations
- 02Expand into international markets
.png)