Magic seeks $200M in new funding round to reach $1.5B valuation, led by investors including Jane Street

Jul 02, 2024•over 1 year ago

Amount Raised

$200 Million

LondonFitnessWellness

Investors

Alphabet's Capital GNfdg VenturesDaniel GrossNat FriedmanJane Street

Description

Magic, a U.S. startup focusing on AI coding with no revenue or product for sale, is in talks to raise over $200 million in a funding round. The round is expected to value the company at $1.5 billion, tripling its previous valuation. Investors such as Jane Street are expected to lead the round.

Company Information

Company

Magic AI

Location

London, England, United Kingdom

About

MAGIC is the first in the world to allow users to perform exercises in front of an intelligent hologram mirror which uses our own custom computer vision software to correct real-time form, rep count, and give live feedback to give a completely hyper-personalised workout. We have combined this with our patent-pending dumbbells and co-created workout content with the world's leading athletes.

Related People

3 contacts

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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