Tuesday, November 5

Tag: Magicpin

MagicPin Parent Secures $20 million Led by Lightspeed US
23Nov By Gauri SinghNo Comments
FUNDING

MagicPin Parent Secures $20 million Led by Lightspeed US

The owner and operator of discovery and rewards platform MagicPin known as Samast Technologies has secured funds amounting to $20 million (Rs 141 crore) in a funding round led by Lightspeed Venture Partners US. With this funding round, the valuation of the company has reached an estimated $100 million. The total funding of the three-year-old venture with this round has become about $30 million in equity financing. “The round was led by Lightspeed US, with partners Jeremy Liew and Ravi Mhatre, who have now come on board… We’re now possibly the largest platform driving business to offline retailers and brands in the country,” Anshoo Sharma, chief executive officer of MagicPin stated. The company was founded in 2015 by Sharma and Brij Bhushan. The two founders were at Lightspeed India an...
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Selfi Discovery App for Hyperlocal Magicpin Raises $3 million Series A Funding
22Feb By AnkitaNo Comments
FUNDING

Selfi Discovery App for Hyperlocal Magicpin Raises $3 million Series A Funding

Magicpin, a hyperlocal discovery app, founded by Investor-turned-entrepreneurs Brij Bhushan and Anshoo Sharma have raised $3 million in Series A round of funding from Lightspeed Venture Partners. The app offers Instagram-like features where users can take pictures and selfies to avail of offers and discounts at neighbourhood stores. “While looking at the market from an investing lens, it was quite clear that India is entering a phase where everyone would be connected through their smartphones. A trip to China in late 2014 was an eye opener for the kind of businesses and value such an environment would create. There is an opportunity window today in India for creating a massively valuable business that leverages data, technology and people networks around offline transactions, and w...
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