It’s MagicX. $1 million Out of Marque Investors’ Hat
Tricks of Trade
Bengaluru: MagicX, an on-demand, chat-enabled, AI-powered app to manage day-to-day tasks, has raised $1million from marque investors including Kris Gopalakrishnan (cofounder, Infosys), Dr Ranjan Pai (MD, Manipal Education and Medical Group), Ramaraj (cofounder, Sify), Hari Kumar (Lionrock, Singapore) and Aarti Grover (MD, CMS Computers).
The funds raised will be used for team expansion, marketing initiatives, addition of more service categories and technology upgradation.
“With the addition of newer categories such as food, travel and ecommerce, as well as targeted marketing, MagicX aims to be the largest Conversational Commerce company in India,” said Pratyush Prasanna, chief executive officer, MagicX.
The app enables users to carry out day-to-day tasks like grocery shopping, bill payments, recharge, order food, book flight tickets Funds will be used for team expansion, marketing initiatives, adding service categories and tech upgradation MagicX’s app helps carry out tasks like grocery shopping, bill payments etc. via a chat enabled, AI platform
(cofounder, Infosys), (MD, Manipal Education & Medical Group), (Cofounder, Sify) and other utility services via a chat enabled, artificial intelligence platform and is currently available for free on Android. MagicX has tied up with about 20 partners across ecommerce, bill payments, recharges, groceries, travel etc.
MagicX is already in talks with four venture capital firms to raise a $5 million Series-A round. Founded by Pratyush Prasanna (Ex VP
at Paytm), and Arun Kumar (ex Tutorvista, Portea Medial), MagicX is promoted by GrowthStory, the venture builder platform founded by K Ganesh and Meena Ganesh.
“Bots and artificial intelligence are the next frontiers in technology. I am excited to back this team which is working in such cuttingedge technologies,” said Gopalakrishnan.