London-based fitness technology company MAGIC AI has raised £8.3 million in Series B funding to accelerate its expansion across the United States and develop the technology behind its AI-powered fitness mirror.

The round was co-led by Beringea and existing investor IW Capital, with participation from PXN Group, Accelerate Ventures, Ventures Together and Active Partners. The investment takes MAGIC AI's total funding to £15 million.

Bringing AI coaching into the home

MAGIC AI's flagship product is a wall-mounted smart fitness mirror that combines computer vision, generative AI and holographic coaching.

Its ReflectAI technology tracks how users move, counts repetitions and provides real-time feedback on exercise form. The platform currently supports more than 1,000 exercises, while AI-generated holograms allow users to train with virtual versions of well-known athletes and coaches.

The company has already built significant usage around the product. More than 500,000 AI-coached workouts have been completed, representing around 150,000 hours of training data. MAGIC AI also says its community now includes more than 18,000 members across the UK and all 50 US states.

That existing US presence is a major reason behind the latest raise.

America becomes the next growth engine

The new funding will support MAGIC AI's expansion in the US while also allowing the company to build deeper into the data layer behind ReflectAI.

The aim is to move beyond simply counting repetitions or correcting individual movements. MAGIC AI wants its system to understand how a user's fitness and performance develop over time, creating a more personalised coaching experience.

Co-founder and CEO Varun Bhanot said the US is expected to make up most of the company's business by next year.

The company is entering a US fitness market where consumers have become increasingly comfortable combining traditional gym sessions with digital and at-home workouts. For MAGIC AI, the challenge now is turning its early traction into a scalable international consumer brand.

From hardware to an AI fitness platform

The business says it has achieved 342% annual growth, while the latest round is believed to be one of the largest funding rounds for an AI fitness company this year. MAGIC AI has also received recognition from TIME and won a King's Award for Enterprise in Innovation in 2026.

The fundraising also comes with additional senior experience, including executives who previously held roles at Peloton International.

For investors, MAGIC AI sits at an interesting intersection of consumer hardware, AI, fitness and subscription services. The next stage will be about proving that its technology can work at scale while building a repeatable customer base in one of the world's biggest consumer markets.

For founders, the raise is another example of how combining physical products with recurring software and data can create a broader technology proposition.

Can AI-powered fitness become a mainstream alternative to traditional personal training?

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