Today, I'm excited to announce we've closed an $11 million Series B 🚀 I believe it's one of the largest consumer AI deals in the UK this year and takes MAGIC AI's total funding to $20 million. Co-led by Beringea and IW Capital, joined by Active Partners, PXN Group, Accelerate Ventures, Doorway and Ventures Together. These investors were the first backers in brands like Soho House, Monica Vinader, LEON, Rapha, TALA and Healf. We raised from the people who back category-defining consumer brands. That's exactly where we want to sit in the market. Not just an AI company, a consumer AI brand people love. It tells you where we're heading, especially across the pond. America becomes most of our business next year, and this is the backing to scale up there as our community surpasses 20,000+ members across all 50 states. This round took a huge amount out of a lot of people. It took months of hard work behind the scenes that nobody sees. To the team, thank you. Every single one of you made this happen. To my wonderful wife, Anisha, and my beautiful kids, Bani and Deep, I wouldn't have had the strength without you by my side ❤️ Full story in The Times in print and online. Link in comments 👇
Thank you everyone!! What a journey it has been 🙌🏽🔥🚀
Varun Bhanot heartiest congratulations on this Series B round and it’s always really fascinating to see the kind of verticals/ spaces that AI is spreading into and it’s these various applications which will all be a part of our world 10 years from now!
I’m a customer of Magic mirror - my wife was totally against it initially as she felt it was gimmicky but now my 6 year old son and I are totally hooked to the box fit and dance fit sessions. More power to you!!
Amazing! Congratulations
Incredible achievement, Varun Bhanot . Securing consumer-focused backing to fuel state-side growth is a huge vote of confidence in the platform. Congrats to you and the entire MAGIC AI team on pushing through the fundraising hustle.
Congrats on the Series B — turning an AI product into a consumer brand is the harder part. The 20,000-member community sounds like a strong base for the US push.
Congratulations, Varun. Funding is an important milestone, but building a consumer brand that customers genuinely adopt and stay with is what ultimately creates enduring value.
Congrats on the round! Really smart positioning too, backers known for consumer brands rather than typical AI investors signals about how you want to be seen in the market.
The interesting part isn’t just the raise, it’s the positioning. “Not just an AI company, a consumer AI brand people love” is the real ambition here. Building the community alongside the product is what makes that especially interesting going into the US. Huge milestone.
📌 Full Article here: https://www.thetimes.com/business/entrepreneurs/article/magic-ai-fitness-mirror-enterprise-network-m9b2qkkpk A massive thank you to everyone who has been on this journey with us 🙏