This paper describes a calibration method for inertial and magnetic sensors using a batched optimization procedure. Well estab- lished sensor, motion and constraint models are applied which include sensor gains, biases, misalignments and inter-triad misalignments. For the magnetometer, hard and soft iron model parameters and local dip- angle are embodied in the framework as well. The method does not require any additional equipment, is minimal restrictive with respect to the required movements, and can be performed within one minute. Our approach is applicable for both single and multi Inertial Measurement Units (IMU) and leverages from the relative pose between rigidly con- nected IMU’s. We demonstrated that our approach resulted in improved dead reckoning estimates and showed good agreements with an optical reference system for both position and orientation estimates.