Editorial Staff
LONDON, UNITED KINGDOM – November 25, 2024
Magic AI, the company behind the award-winning AI-powered fitness mirror, Magic Mirror, has announced the successful completion of a £4 million seed funding round. The round was led by IW Capital, with participation from Baleen Capital, SFC Capital, Ventures Together, and notable senior executives and CEOs from companies like TikTok, Meta, Spotify, and Stripe.
Revolutionizing Fitness with AI
The Magic Mirror leverages proprietary AI technology, ReflectAI®, to provide real-time personal training guidance. This hologram-enabled fitness mirror tracks body positions, movements, and form to deliver tailored workout corrections and feedback. Users can choose from a wide range of training programmes featuring celebrity athlete ambassadors such as Sir Alastair Cook, Team GB Olympic champion Desiree Henry, and Strictly Come Dancing’s Katya Jones.
Key features of the Magic Mirror include:
• Real-time posture and movement tracking for hundreds of exercises.
• Personalized audio and visual prompts to improve form and performance.
• Progress tracking for calories burned, reps completed, weight lifted, and workout time.
The technology addresses a critical gap in the fitness market by making personal training accessible and affordable for millions worldwide.
Market Growth and Expansion Plans
The global home fitness equipment market is projected to grow from £10 billion in 2023 to £15 billion by 2030, driven by increasing demand for connected exercise solutions. Magic AI plans to utilize the new funding to:
• Scale operations and meet growing demand.
• Expand internationally, with a focus on the USA.
Industry Recognition
The Magic Mirror has earned global acclaim, being named one of Time magazine’s 200 Best Inventions in the World. Over the past 18 months, the company has logged 46,000 hours of personal training through its platform, aiming to quintuple this number in the coming year.
Investor and Leadership Insights
Tariq Attia, CEO of IW Capital, emphasized the significance of the investment:
“We’re thrilled to support Magic AI in scaling its unique AI fitness technology, targeting the rapidly growing home fitness market.”
Varun Bhanot, Co-founder and CEO of Magic AI, highlighted the transformative impact of their technology:
“We’ve changed the lives of thousands of customers and are proud to lead the charge in using AI to revolutionize health and wellness.”
For more information, visit magic.fit.
Media Contact:
Email: [email protected]
Location: London, United Kingdom
