# Magiclane App Services Pvt

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magiclane-app-services-pvt

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.magicx.co
- Total disclosed funding: $5.9M
- Latest round: Series A (Aug 6, 2020)
- Investors on record: 3

## About

Magiclane App Services Pvt Ltd is a Bangalore-based company specializing in innovative app solutions that enhance operational efficiency and user experience across various sectors, including healthcare and finance.Magiclane App Services Pvt Ltd focuses on developing mobile and web applications tailored to meet the needs of both small enterprises and large corporations. The company is headquartered in Bangalore, India, and has raised a total of INR 467.53 million in funding through a Series A round in November 2021, with a current valuation of INR 2,033.45 million. The company experienced no significant pivots in its business strategy since its inception, and there are no references to any parent or subsidiary firms.The company specializes in a range of core product offerings designed to address specific end-user needs across various markets. Their primary product suite includes innovative solutions that streamline operational efficiencies, enhance user experience, and solve critical challenges across multiple sectors. These products cater to a diverse client base, including small to medium enterprises and large corporations, and are applicable in industries such as healthcare, finance, and technology. The solutions are tailored to meet the demands of both domestic and international markets, including North America and Europe, and have received positive feedback for their effectiveness in enhancing productivity and driving growth for users.In 2022, Magiclane App Services Pvt Ltd reported a revenue of INR 1,289,064.80, with an EBITDA of -INR 3,636,751.90, reflecting the company's financial performance during that period. The revenue generation model is structured around a combination of direct-to-consumer sales and B2B partnerships, allowing for a diversified revenue stream through subscription-based services and one-time purchases.Magiclane App Services Pvt Ltd aims to leverage recent funding to expand its offerings and enter new markets. Following the Series A funding of INR 467.53 million in November 2021, the company is set to launch new product innovations designed to enhance user engagement and operational complexity by the end of 2023. Additionally, there are intentions to penetrate further into the North American and European markets, targeting completion of this expansion within the next two years.

## Funding rounds

- Series A, Aug 6, 2020, $3.5M — Alpha Wave Global, Inflexor Ventures
- Seed, Aug 23, 2019, $1.1M — Inflexor Ventures
- Series A, Nov 16, 2018, $1.3M — Inflexor Ventures, Pratithi Investment Trust

## Investors

- Inflexor Ventures (https://capitalatlas.ai/funds/inflexor-ventures) — Series A, Seed
- Pratithi Investment Trust — Series A
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series A