MAGIC AI, the UK’s first AI private coach, is on a mission to fight weight problems by way of its progressive health platform. Based in 2021, the corporate utilises cutting-edge holographic know-how and a wall mirror to create an immersive health expertise at residence.
In our newest Behind The Elevate interview, co-founder Varun Bhanot shares his private journey from being obese to a transformative coaching expertise, which impressed him to democratise personalised coaching.
He discusses the issue MAGIC AI goals to resolve, its attraction to traders, superstar endorsement, and helpful ideas for elevating funding. Varun additionally reveals how he found a close-to-home connection within the AIN database.
Inform us about MAGIC AI, and the way you got here up with the thought?
In my early 20s, I grew to become very obese. I had developed an excessive amount of of a passion for kebabs and whisky and I realised I wanted a change. So I went by way of a private coaching expertise in London. In about 4 months, I misplaced round 25% physique fats and obtained into nice form, one thing I had by no means achieved earlier than.
However like so many, I used to be by no means into the health club, discovering it intimidating and never realizing what to do. Throughout this course of, I seen how old style private coaching was, with a coach manually counting reps on a clipboard, and I considered democratising entry to personalised coaching at residence. That’s when the thought of utilizing AI and {hardware} to recreate the one-on-one private coaching expertise was born. We began constructing on this concept, and that’s how MAGIC AI took form.
What’s the drawback you wish to remedy?
Our mission is to deal with weight problems and its related prices, which quantity to round £7bn a yr in England. We goal to assist individuals lead more healthy, fitter, and longer lives, backed by scientific proof of the advantages of personalised coaching.
Our aim is to offer this one-on-one personalised expertise, solely inexpensive to some, and make it accessible to everybody. Conventional private coaching in London could be expensive, starting from £40 to £100 per hour, limiting accessibility to 1 individual at a time and requiring bodily presence.
Our know-how adjustments that by enabling the whole family to coach collectively at a fraction of the associated fee, round £38 per 30 days. This makes our answer extra inexpensive for one month, than a single hour with a private coach.
What attracted traders to your organization?
The AI side of our firm is especially attention-grabbing to traders. We utilise pc imaginative and prescient applied sciences much like these present in self-driving vehicles to grasp individuals’s actions and actions in area. Few corporations worldwide are excelling on this intersection of AI, well being teaching, and health coaching, making our strategy distinctive and intriguing.
Moreover, the related health market within the UK and Europe is comparatively nascent, with just a few robust gamers like Peloton. Our presence on this area, coupled with the potential for progressive choices, has attracted curiosity.
Lastly, we’ve got the privilege of working with famend athletes who’re on the platform from cricketing legend Sir Alastair Cook dinner and Strictly’s Katya Jones.
Utilizing AI to make it really feel like these athletes are teaching customers of their dwelling rooms is a compelling proposition that helped jumpstart curiosity from traders.
Why did you select to boost through Angel funding Community?
Firstly I’d had a relationship with AIN from my earlier firm. Given it was our first spherical of funding, it was the pure place to go.
As an apart, I used to be pleasantly shocked to find that my mother and father had invested in just a few corporations by way of AIN over time. The rationale I discovered? They have been on the publication to obtain updates about thrilling corporations elevating. This clearly highlights AIN’s intensive attain and a powerful community, precisely what it says on the tin!
The Angel Funding Community has confirmed to be a superb platform for elevating funds, and I’ve personally advisable it to a minimum of 5 different founders who’ve discovered it useful as properly.
What can be your high tip for anybody elevating for the primary time?
Guarantee all of your belongings are ready and available. Have your deck, knowledge room, monetary mannequin, market sources, and crew neatly organised and accessible.
This front-loading of belongings will impress potential traders and allow you to reply promptly once they attain out. Be ready and able to act.
How do you see AI impacting on what you are promoting and product providing sooner or later?
Sooner or later, we see AI persevering with to have a major impression on our enterprise. We’d prefer to go deeper into turning into a personalised well being coach, wanting on the granular particulars of particular person well being objectives and producing tailored applications.
By leveraging knowledge from wearables and different sources, our system would have the ability to constantly iterate. Then we are able to begin to construct a 3D image of the way you’re progressing.
We additionally see a future the place we broaden our AI capabilities to cowl various modalities like yoga, dance, boxing, and pilates, catering to numerous consumer preferences and desires. Presently, such AI-based directions are scarce in these areas, making it a compelling and promising route to discover.
If you happen to’re on the lookout for an angel investor to assist fund what you are promoting, then the Angel Funding Community might help. Sign up to pitch your business to investors all over the world
#Elevate #Magic
