MAGIC AI Raises $5M for Fitness Mirror

Investors are still bullish on fitness screens.

The latest: UK-born fitness mirror maker MAGIC AI added $5M in a round led by IW Capital.

See & do. Equipped with form tracking and smart dumbbells, the company has sought to scale across Europe in its first year.

Following early support from Sir Richard Branson and a host of British pro athletes, it surpassed 5K customers and logged 46K hours of AI-assisted personal training — aiming to 5x next year.

Hall of Mirrors

As MAGIC AI mulls US expansion, it’ll join a crowded landscape, including Echelon, NordicTrack, ProForm, and FORME.

In reflection. Struggling with product-market fit, many connected fitness makers have already bowed out, with lululemon shuttering MIRROR and Chinese competitor Fiture exiting the US.

But developments in strength training and AI have reinvigorated brands old and new.

• Alter’s smart mirror pairs with personalized DNA-based health coaching.
• Tonal is competing with Hydrow-owned Speede and OxeFit to corner the sports market.
• Touting screen, pulley, and platform, Speediance and Echelon launched new strength models while AEKE prepares to enter.

Shrinking down to scale up, amp’s wall-mounted arm and Kabata and Technogym’s connected dumbbells all sync to a screen-agnostic app.

Looking ahead: Despite mixed results for equipment makers, many exercisers have stuck to hybrid routines. But, with or without screens, brands will need to sell consumers on the experience first.