# Magma

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

- Industry: Software
- Headquarters: Austin, US
- Website: www.magma.com/
- Total disclosed funding: $5M
- Latest round: Seed (Dec 12, 2023)
- Investors on record: 7

## About

Founded in 2020 and based in Texas, US, Code Charm, Inc, doing business as Magma, operates as a software platform that engages in art team management and offers a collaborative painting solution. In December 2023, Magma raised USD 5 million in seed funding led by GFR Fund, with participation from 4Founders Capital, Acequia Capital, Anorak Ventures, Bandai Namco Entertainment Inc., Gaingels Syndicate, and Supernode Global.

Magma offers a canvas for friends to collaborate on creative projects and allows artists to connect with like-minded individuals and communities.

The company platform integrates with various existing tools like slack, Jira, Photoshop, and many more enabling collaborative workflows for painting and drawing, offering pen-pressure sensitivity and a vast toolkit of professional drawing tools.

The company generates revenue by charging for its various subscription packs that vary as Starter, Professional (USD 25 per month), and Enterprise.

The company plans to use the December 2023 funding to extend its global presence, hire additional team members, and enhance its collaborative campaign in art software.

## Funding rounds

- Seed, Dec 12, 2023, $5M — Acequia Capital, GFR Fund, Gaingels, Anorak Ventures, 4Founders Capital, Bandai Namco Entertainment, Supernode Global

## Investors

- Acequia Capital (https://capitalatlas.ai/funds/acequia-capital) — Seed
- GFR Fund (https://capitalatlas.ai/funds/gfr-fund) — Seed
- Gaingels (https://capitalatlas.ai/funds/gaingels) — Seed
- Anorak Ventures (https://capitalatlas.ai/funds/anorak-ventures) — Seed
- 4Founders Capital (https://capitalatlas.ai/funds/4founders-capital) — Seed
- Bandai Namco Entertainment — Seed
- Supernode Global (https://capitalatlas.ai/funds/supernode-global) — Seed