# Magiclane

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/magiclane

- Industry: Software
- Headquarters: Bangalore, India
- Website: www.verloop.io
- Total disclosed funding: $19M
- Latest round: Series A (Nov 8, 2021)
- Investors on record: 7

## About

Magiclane, Inc. specializes in AI-driven customer service automation solutions designed to enhance operational efficiency and improve customer engagement across multiple platforms.Founded in 2016, Magiclane, Inc. operates as a customer service automation provider. The company is headquartered in Bangalore, India. Gaurav Singh, the CEO and founder, previously founded other ventures prior to establishing Magiclane. The company has successfully completed 8 deals and raised a total of INR 467.520 mn in its Series A funding round, with key investors including Alpha Wave Global, Alphatron Capital, and Sama Family Trust. The current company valuation stands at INR 2,033.454 mn.Magiclane, Inc. offers Verloop.io, an AI-powered customer service automation platform that streamlines customer interactions across various channels such as WhatsApp, Messenger, and Instagram direct messages. The platform leverages large language model (LLM) technology to address repetitive customer queries, thereby optimizing the efficiency of customer service agents. Their services cater to a wide range of industries, including e-commerce, banking, travel, and real estate, with a strong presence in the USA, UAE, and India. Notably, the company has developed bespoke solutions like India’s first Period Tracker on WhatsApp, demonstrating its commitment to tailored client services.In the most recent financial year, Magiclane, Inc. reported a revenue of INR 3,388,478 and an EBITDA of INR -961,789.4. The company operates on a subscription-based revenue model, allowing businesses to access their automation platform with customized pricing plans adjusted to various operational scales, enhancing overall customer satisfaction through efficient service delivery.Magiclane, Inc. is focusing on developing new products to enhance its customer service offerings, with plans to introduce additional features in the upcoming months. The company aims to expand its market reach into regions beyond its current operations, specifically targeting new markets in Southeast Asia by mid-2025. Recent funding in the form of venture capital from MGA Ventures will be instrumental in supporting these growth initiatives, including product development and market expansion efforts.

## Funding rounds

- Series A, Nov 8, 2021, $6.3M — Alpha Wave Global, Sama Family Trust, Alphatron Capital
- Series A, Aug 25, 2020, $5M — Alpha Wave Global, Inflexor Ventures
- Series A, Aug 6, 2020, $3.5M — Alpha Wave Global, Inflexor Ventures, Pratithi Investment Trust
- Seed, Aug 23, 2019, $1.1M — Inflexor Ventures, Pratithi Investment Trust
- Series A, Nov 26, 2018, $3M — Investcorp India Asset Managers, Inflexor Ventures
- Seed, Nov 1, 2016 — GrowthStory

## Investors

- GrowthStory (https://capitalatlas.ai/funds/growthstory) — Seed
- Investcorp India Asset Managers (https://capitalatlas.ai/funds/investcorp-india-asset-managers) — Series A
- Inflexor Ventures (https://capitalatlas.ai/funds/inflexor-ventures) — Series A, Seed
- Pratithi Investment Trust — Seed, Series A
- Alpha Wave Global (https://capitalatlas.ai/funds/alpha-wave-global) — Series A
- Sama Family Trust — Series A
- Alphatron Capital (https://capitalatlas.ai/funds/alphatron-capital) — Series A