It’s Mag­icX. $1 mil­lion Out of Mar­que In­vestors’ Hat

Tricks of Trade

The Economic Times - - Disruption: - Our Bu­reau

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.

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