MAGIC AI, a consumer AI fitness startup, has raised £8.3 million in a Series B co-led by Beringea and existing back IW Capital to scale up in the United States. PXN Group, Accelerate Ventures, Ventures Together and Active Partners also participated. The round is one of the largest funding round for an AI fitness company this year and takes total funding to £15 million.
The Mirror merges computer vision with holographic coaching to deliver real-time feedback and personalised workouts at home. Proprietary ReflectAI® technology tracks motion, corrects form, counts reps and coaches users through more than 1,000 exercises. Celebrity athletes appear on the Mirror as "holograms", morphed by generative AI and computer vision into personal trainers who coach and respond in real time in the user's living room. The roster includes former Manchester United and England forward Jesse Lingard, former England cricket captain Sir Alastair Cook, and Strictly Come Dancing's Katya Jones.
So far, the product has logged over 500,000 AI-coached workouts across 150,000 hours, which MAGIC AI believes to be the largest AI dataset of its kind. Named the 4th fastest-growing hardware company by The Sunday Times, the business posts 342% annual growth and has a UK and US community of 18,000+ members across all 50 states. TIME Magazine named the Mirror one of its Best Inventions of 2024, and in 2026 it received the King's Award for Enterprise in the Innovation category. The round is believed to be the largest for an AI fitness company this year, in an AI fitness market worth $35 billion.
The former Managing Director of Peloton International, CCO and former Head of Operations are also joining the team. Fresh capital goes towards US expansion and building deeper into the data layer behind ReflectAI®, so that the Mirror understands how users progress over time rather than just counting what they do. According to Co-founder and CEO Varun Bhanot, America will make up most of the business by next year.
This round is about two things: America will make up most of our business by next year, and going far deeper into the data layer behind ReflectAI®, so that the Mirror does not just count what a user does but understands how they are progressing over time. We're thrilled to have such strategic investors on board for our expansion.
MAGIC AI is one of those businesses where the momentum was immediately obvious to us - customers love the product and it's hitting a real shift in the needs and preferences of consumers who have moved towards a hybrid workout style post-COVID. We've been in touch with Varun over the last few years and have been impressed with his infectious energy and relentless drive. Building on the existing traction in the UK - alongside attractive unit economics and incredible growth - we see significant potential for further expansion in the US, which we are excited to support.
Since our initial investment in 2024, MAGIC AI has grown its direct-to-consumer business extremely rapidly. We're delighted to invest again to support this new funding round and help accelerate that momentum, which has continued into 2026 with new feature launches, entry into the US, and the launch of subscription services.
