Magic, a London, UK-based fitness tech startup, raised $2.5 million (£1.9M) in seed funding. Notable backers in this funding round include Fasanara Capital and SFC Capital.
With this influx of capital, the company has ambitious plans to expand its operations and further develop its innovative fitness solutions.
Among their groundbreaking creations is a hologram wall mirror designed to revolutionize home workouts. This mirror incorporates cutting-edge AI technology that projects virtual coaches to guide users through exercise routines. The coaches offer valuable feedback on form, providing insights on reps, position, pace, and range of motion.
Moreover, the mirror features real-time rep counting to help users stay focused during their workout sessions. It also tracks progress and calculates repetitions, assisting users in achieving their fitness goals.
This funding round has brought Magic closer to fulfilling its mission of making home workouts more engaging, efficient, and effective. By harnessing the power of AI and hologram technology, the company is poised to transform the fitness industry.
Company: Magic Tech Ltd.
Raised: $2.5M
Round: Seed Round
Funding Month: July 2023
Lead Investors:
Additional Investors: Fasanara Capital and SFC Capital
Company Website: https://magic.fit/
Software Category: Fitness Solutions
About the Company: Founded in 2021, Magic is a developer of a personalized home gym designed to deliver gamified training. Magic uses computer vision, connected weights, and 3D cameras to deliver personal training by athletes at home. The product offers various training options, including strength, boxing, dance, yoga, and sports techniques, catering to individual preferences and family members. Magic allows users to perform exercises in front of an intelligent hologram mirror which uses its custom computer vision software to correct real-time form, rep count, and give live feedback to give a completely hyper-personalized workout.
Source: https://www.startupmag.co.uk/funding/magic-raised-1900000/