MAGIC AI

Fitness mirror company MAGIC AI has closed an £8 million Series B funding round co-led by Beringea and IW Capital to scale its operations in the United States and advance its AI fitness technology.

Summary of transaction details:

• Value: £8 million
• Sector: Consumer Goods
• Advisor: Not disclosed
• Key Entities: MAGIC AI, Beringea, IW Capital
• Location: United Kingdom / United States

Note: The investment is driven by the company's rapid 342% annual growth and increasing consumer adoption of hybrid home fitness solutions, positioning the business to capture significant market share in the US.