MagicX, an on-demand chat-enabled app to manage day-to-day tasks, today said it has raised USD 1 million (about Rs 6.6 crore) from marquee investors including Infosysco-founder Kris Gopalakrishnan, Manipal Education and MedicalGroup MD Ranjan Pai.
The fund raised will be used for team expansion, marketing initiatives, addition of service categories andtechnology upgradation, MagicX said in a release.
It said MagicX is already in talks with four venture capital firms to raise a USD 5 million Series A round.
The app enables users to carry out day-to-day tasks like grocery shopping, bill payments, recharge, order food, book flight tickets and other utility services via a chat enabled, artificial intelligence platform and is currently available for free download in the Android store.
MagicX has tied up with about 20 partners across e-commerce, bill payments, recharges, groceries and travel, it said.
MagicX has racked up 100,000 downloads since it was launched on February 24, and has also been the No.1 new shopping app in Android, it added.
Founded by Pratyush Prasanna (formerly founder/CEO of Plustxt and VP at Paytm) and Arun Kumar (ex Tutorvista, Portea Medial), MagicX is promoted by GrowthStory, the venturebuilder platform founded by K Ganesh and Meena Ganesh.
MagicX aims to be the largest Conversational Commerce Company in India.
"The backing we've received from some of thesmartest investors and entrepreneurs in the business will helpus build on our cutting-edge technology platform. We will alsouse some of the funds to market MagicX to the right audiences," MagicX Co-founder and CEO Pratyush Prasanna said.
The app enables users to carry out day-to-day tasks like
grocery shopping, bill payments,recharge, order food, book flight tickets and other utility services via a chat enabled, artificial intelligence platform and is currently available for free download in the Android store. MagicX has tied up with about 20 partners across e-commerce, bill payments, recharges, groceries, travel etc. In this short time, MagicX has successfully driven huge traffic to some of these partners - in some cases emerging among their top 10 transaction sources.
MagicX is already in talks with four venture capital firms to raise a $5 million Series A round.
Founded by Pratyush Prasanna (formerly founder/CEO of Plustxt and 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.
"MagicX has been the No 1 new shopping app and has seen daily transactions hit the 5000-mark since releasing on the Play Store in late-Feb this year. With the addition of newer categories such as food, travel, and e-commerce, as well as targeted marketing, MagicX aims to be the largest Conversational Commerce company in India. The backing we've received from some of the smartest investors and entrepreneurs in the business will help us build on our cutting-edge technology platform. We will also use some of the funds to market MagicX to the right audiences," said Pratyush Prasanna, Co-founder and CEO, MagicX.
