40-42 Hatton
Garden London
EC1N 8EB
Accelerate Ventures is delighted to announce our investment in Magic AI, the fitness technology company bringing studio-quality personal training into the home, as part of the company’s recent Series B funding round.
Founded in London in 2021 by Varun Bhanot and Sunil Jindal, Magic AI has built the Magic Mirror: a smart, AI-powered fitness mirror that guides users through workouts and provides real-time form correction. In under five years, it has become the leading fitness mirror in the UK and has recently launched its product in the US market.
Consumers across the UK and US spend £2.3bn on connected home fitness annually, across physical hardware and subscription payments. Giants like Peloton, Zwift, Tonal, and others have propelled this category to one of the most attractive consumer segments today.
The economics of staying fit are moving in the right direction for home fitness. A personal trainer costs an average of £40/hour in the UK and $50-90 in the US, and gyms are increasingly crowded as membership growth outpaces new site openings. A one-off piece of equipment that delivers guided training at home offers an attractive, sensible alternative to both.
Gyms and PTs lose customers for three main reasons: cost, time, and intimidation. More than a quarter of UK gym cancellations cite cost as the primary reason, and one in seven mention lack of time. Intimidation is a less visible but equally prevalent issue, particularly among female gym-goers. 17% of women report feeling intimidated at the gym, up 7% year-on-year, and nearly 80% of those point to exercising in front of others as a root cause. New parents churn at even higher rates, and four in ten say they would rather exercise at home.
Free workout content on YouTube and other sites solves the cost issue, but fails to provide the live, mid-workout guidance and form correction that beginners and intermediates need most. This gap is precisely what Magic AI sets out to fill, and maps closely onto the company’s ICP: often a parent, frequently a woman, who wants proper instruction at home that can fit flexibly around everything else.
The Magic Mirror is a full-length mirror with a 32-inch display, camera, speakers, and can be mounted to the wall or stood on the floor. It streams classes from strength, HIIT, yoga, dance, cardio, and more, led by well-known athletes and fitness industry figures, including Jesse Lingard, Sir Alastair Cook, Desiree Henry, and Katya Jones.
The tech underpinning the product is ReflectAI, the company’s proprietary computer vision model. It tracks users’ range of motion, counts reps, and corrects form, turning a video class into something resembling a private PT session. The model has been trained on a database of 900+ exercises.
Available for £999, the Magic Mirror is among the more affordable home fitness products on the market, viewed against the likes of Vaha (~£1,500), Tonal ($2,500 – $4,300+), and Forme (price on request). The company also offers most of its content as included with the hardware purchase, with the remainder available for subscribers.
Magic AI is tackling a large, growing market, and the company’s commercial traction to date has been excellent, boosted by a hugely successful US market entry less than a year ago. Magic was one of just 52 businesses in the UK to receive the prestigious King’s Award for Enterprise in the Innovation category this year. Other holders include Rolls Royce, Dyson, and ARM Holdings.
Co-founder and CEO Varun has driven the company’s brand and fundraising efforts, collecting many industry awards and media accolades along the way, including GQ, Men’s Health, Women’s Health, and Time Magazine as one of their “Best Inventions of 2024”. It has also been recognised by the Sifted 100 as one of the fastest growing start-ups in the UK and Ireland in both 2025 (6th) and 2026 (13th).
Magic AI’s near-term focus is expanding its US market share. A great technical product and a successful go-to-market drove the company to a strong position in the UK. Replicating this success in a larger, more crowded market is the primary opportunity going forward.
Accelerate Ventures is delighted to back companies like Magic AI: mission-driven teams, building strong products that customers love, solving real problems in big markets.
– 2026: 13th
– 2025: 6th
– 2024: Not featured
– 2023: Sifted list did not exist until spring 2024
Ready to take your sports start-up to the next level? Let's collaborate and redefine the game together.
Accelerate Ventures is delighted to announce our investment in Magic AI, the fitness technology company bringing studio-quality personal training into the home, as part of the company’s recent Series B funding round.
Founded in London in 2021 by Varun Bhanot and Sunil Jindal, Magic AI has built the Magic Mirror: a smart, AI-powered fitness mirror that guides users through workouts and provides real-time form correction. In under five years, it has become the leading fitness mirror in the UK and has recently launched its product in the US market.
Consumers across the UK and US spend £2.3bn on connected home fitness annually, across physical hardware and subscription payments. Giants like Peloton, Zwift, Tonal, and others have propelled this category to one of the most attractive consumer segments today.
The economics of staying fit are moving in the right direction for home fitness. A personal trainer costs an average of £40/hour in the UK and $50-90 in the US, and gyms are increasingly crowded as membership growth outpaces new site openings. A one-off piece of equipment that delivers guided training at home offers an attractive, sensible alternative to both.
Gyms and PTs lose customers for three main reasons: cost, time, and intimidation. More than a quarter of UK gym cancellations cite cost as the primary reason, and one in seven mention lack of time. Intimidation is a less visible but equally prevalent issue, particularly among female gym-goers. 17% of women report feeling intimidated at the gym, up 7% year-on-year, and nearly 80% of those point to exercising in front of others as a root cause. New parents churn at even higher rates, and four in ten say they would rather exercise at home.
Free workout content on YouTube and other sites solves the cost issue, but fails to provide the live, mid-workout guidance and form correction that beginners and intermediates need most. This gap is precisely what Magic AI sets out to fill, and maps closely onto the company’s ICP: often a parent, frequently a woman, who wants proper instruction at home that can fit flexibly around everything else.
The Magic Mirror is a full-length mirror with a 32-inch display, camera, speakers, and can be mounted to the wall or stood on the floor. It streams classes from strength, HIIT, yoga, dance, cardio, and more, led by well-known athletes and fitness industry figures, including Jesse Lingard, Sir Alastair Cook, Desiree Henry, and Katya Jones.
The tech underpinning the product is ReflectAI, the company’s proprietary computer vision model. It tracks users’ range of motion, counts reps, and corrects form, turning a video class into something resembling a private PT session. The model has been trained on a database of 900+ exercises.
Available for £999, the Magic Mirror is among the more affordable home fitness products on the market, viewed against the likes of Vaha (~£1,500), Tonal ($2,500 – $4,300+), and Forme (price on request). The company also offers most of its content as included with the hardware purchase, with the remainder available for subscribers.
Magic AI is tackling a large, growing market, and the company’s commercial traction to date has been excellent, boosted by a hugely successful US market entry less than a year ago. Magic was one of just 52 businesses in the UK to receive the prestigious King’s Award for Enterprise in the Innovation category this year. Other holders include Rolls Royce, Dyson, and ARM Holdings.
Co-founder and CEO Varun has driven the company’s brand and fundraising efforts, collecting many industry awards and media accolades along the way, including GQ, Men’s Health, Women’s Health, and Time Magazine as one of their “Best Inventions of 2024”. It has also been recognised by the Sifted 100 as one of the fastest growing start-ups in the UK and Ireland in both 2025 (6th) and 2026 (13th).
Magic AI’s near-term focus is expanding its US market share. A great technical product and a successful go-to-market drove the company to a strong position in the UK. Replicating this success in a larger, more crowded market is the primary opportunity going forward.
Accelerate Ventures is delighted to back companies like Magic AI: mission-driven teams, building strong products that customers love, solving real problems in big markets.
– 2026: 13th
– 2025: 6th
– 2024: Not featured
– 2023: Sifted list did not exist until spring 2024
Accelerate Ventures
Accelerate Ventures 40-42 Hatton Garden London EC1N 8EB
