# Magic AI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magic-ai-2

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.magic.dev
- Total disclosed funding: $460M
- Latest round: Series C (Aug 29, 2024)
- Investors on record: 7

## About

Based in California, US, and founded in 2022, Magic AI Inc. provides a type of software that aids in the use of artificial intelligence to construct another program. The company was co-founded by its CEO Eric Steinberger. In January 2025, Flat Capital acquired an undisclosed stake in Magic AI Inc. for SEK 9 million.

The company offers artificial intelligence platform that develops software via its neural network architecture. Additionally, the firm software helps to edit code in the entire repository.

The organization plans to use the January 2025 funding to advance its AI and technological capabilities.

## Funding rounds

- Series C, Aug 29, 2024, $320M — Hong Shan, CapitalG, Atlassian Ventures, Jane Street Group, LLC
- Series B, Feb 12, 2024, $117M — CapitalG, NFDG Ventures
- Series A, Feb 6, 2023, $23M — Amplify Partners, CapitalG, 10x Founders

## Investors

- Amplify Partners (https://capitalatlas.ai/funds/amplify-partners) — Series A
- CapitalG (https://capitalatlas.ai/funds/capitalg) — Series A, Series B, Series C
- 10x Founders (https://capitalatlas.ai/funds/10x-founders) — Series A
- NFDG Ventures (https://capitalatlas.ai/funds/nfdg-ventures) — Series B
- Hong Shan — Series C
- Atlassian Ventures (https://capitalatlas.ai/funds/atlassian-ventures) — Series C
- Jane Street Group, LLC — Series C