Executives from Spotify, TikTok, and Meta have participated in the fitness tech startup’s recent funding round
London-based Magic Mirror maker Magic AI has raised $5 million in an investment round led by IW Capital, following a $2.5 million round last summer.
The AI-powered fitness mirror Magic AI Mirror touts a hologram that tracks body positions, movement, and form and has attracted athlete ambassadors such as Sir Alastair Cook, Desiree Henry, and Katya Jones and landed on TIME’s annual list of the 200 World’s Best Inventions.
The recent funding round also saw participation from Baleen Capital, SFC Capital, and Ventures Together, and angel investors from Spotify, TikTok, and Meta.
“We’re delighted to be backing a company that is helping millions of people, who may otherwise not be able to access, or afford, personal training, to achieve their fitness goals,” IW Capital shared in a LinkedIn post announcing the funding.
As a mirror-based personal trainer/gym, Magic AI Mirror users can purchase adjustable dumbbells and an incline bench or use their own. The Mirror offers 100+ classes, including content from celebrity athletes and personalized workout programs. Membership is free; new content and AI form-tracking features are added every two weeks. Each mirror allows up to five user accounts.
Magic co-founder Varun Bhanot wrote on LinkedIn that the $5 million venture capital investment round will take Magic AI to the next level.
“It’s difficult to put into words what an exhausting & stressful year it’s been,” Bhanot shared in a post on the career networking site. “Having our first baby & kicking off this second VC raise all in the same year! I started drafting our funding deck in the hospital labor ward last November.”
Within Magic AI Mirror‘s first year, Bhanot says the fitness tech company has surpassed 5,000 customers in 38 countries and built the world’s largest computer vision form-tracking dataset — ReflectAI.
The fitness mirror space appears to be heating up.
Aeke, a sports tech brand established by Qudong Future (Shenzhen) Technology Co., Ltd., is set to launch the Smart Home Gym K1, its AI-driven, auto-foldable 4K touchscreen fitness mirror, on Kickstarter next month. The compact fitness mirror offers a six-dimension comprehensive analysis that scores health aspects such as cardiovascular function and body composition and creates tailored fitness program recommendations.
