About Magiic
Magiic is a Transportation, Automotive & Logistics company based in Bengaluru (India) founded in 2019 by Satyam Raj. EV battery swapping solutions are offered for charging stations. It operates in the Transportation, Automotive & Logistics and Energy & Utilities sectors. Magiic has raised $33.52 thousand across 2 funding rounds from investors including Startup Karnataka and D.M. Metalloys. Magiic was last valued at $2.13 million in May 2022. Its chief executive, as recorded, is Satyam Raj. Its Indian entity Infinityx Innovations Private Limited reported revenue of ₹48.9 Lakh. Magiic offers products and services including Battery Swapping System and Modular Battery Packs. Its focus areas include Energy Tech, Electric Vehicles, Charging Solutions and Station Network. Its competitors include Battery Smart, SUN Mobility and Esmito; 3 of its 3 listed competitors have raised funding.
Company details
MAGIC was founded in 2019 in Bengaluru, India, focusing on the electric vehicle sector. Battery swapping solutions for charging stations are provided through the platform, including 2 KWh battery pack swaps and cell swapping via cables. Operations center on enabling efficient EV infrastructure, with services tailored to urban mobility needs in India.
- Headquarters Bengaluru, India
- Founders Satyam Raj
- Stage Minicorn
- SectorsTransportation, Automotive & LogisticsEnergy & Utilities
- Email••••••••
- Website magiic.in
- Social LinkedIn
- Legal Name Infinityx Innovations Private Limited
- Date of Incorporation 28 Jan, 2019
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹48.9 Lakh
FY 2025 · +314% YoY
- Net Loss-₹35.1 Lakh
FY 2025 · -72% margin
- EBITDA-₹33.4 Lakh
FY 2025 · -68% margin
- Total Equity Funding$33.52K (USD)
in 2 rounds
- Latest Funding Round$33.52K (USD), Seed
May 2022
- InvestorsStartup Karnataka
& 1 more
Associated legal entities of Magiic
Magiic operates through Infinityx Innovations Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Infinityx Innovations Private Limited CIN U72900KA2019PTC120791 | Active | 28 Jan 2019 | Bangalore, Karnataka | ₹0.5 Cr | 3 | View details |
Products & Services of Magiic
Magiic offers a comprehensive portfolio of products and services, including Battery Swapping System and Modular Battery Packs.
Enables rapid 30-second battery swaps for electric vehicles.
Adaptable batteries for multiple vehicle platforms to enhance flexibility.
Funding Insights of Magiic
Magiic has successfully raised a total of $33.52K across 2 strategic funding rounds. The most recent funding activity was a Seed round of $33.52 thousand completed in May 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $33,515
- Total Rounds 2
- Last Round Seed — $33,515
- Investors Count 2
All 2 funding rounds of Magiic with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2022 | $33,515 | Seed | $2.13M | D.M. Metalloys | – |
| Jun 2019 | Grant | – | – |
| Date | Valuation | Stage |
|---|---|---|
| May 2022 | $2.13M | •••••••• |
Last known valuation $2.13M (May 2022). 2 investors in total: 2 institutional.
Investors in Magiic
Magiic has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Startup Karnataka and D.M. Metalloys.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
D.M. Metalloys is engaged in supplying stainless steel products. | 1974 | dmmetals.com | Mumbai, India | |
Support for startups in Karnataka is delivered through policies, funding, and networking services. | 2004 | missionstartupkarnataka.org | Bengaluru, India |
Investor details for Magiic
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Infinityx Innovations Private Limited (Magiic)
Infinityx Innovations Private Limited is the primary company behind Magiic. The board of Infinityx Innovations Private Limited currently have 3 directors; the longest-serving is Shilpa, appointed in 2019.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Shilpa DIN 08343962 | Director | 28 Jan 2019 | 7 yrs 8 mo | Infinityx Innovations Private Limited |
| Sweety DIN 08343961 | Director | 28 Jan 2019 | 7 yrs 8 mo | Infinityx Innovations Private Limited |
| Satyam Raj DIN 08343960 | Director | 28 Jan 2019 | 7 yrs 8 mo | Infinityx Innovations Private Limited |
People of Magiic
1 people are tracked at Magiic (1 in leadership).
| Name | Role | Group |
|---|---|---|
| Founder & CEO | Leadership |
Complete people profiles for Magiic
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Magiic
Figures of Infinityx Innovations Private Limited, the primary company behind Magiic, for FY 2025. Revenue was ₹48.9 Lakh (+314% year on year). Net loss was -₹35.1 Lakh (-72% margin). EBITDA was -₹33.4 Lakh (-68% margin). Revenue has grown at a compounded annual rate of +106% over three years.
- ₹48.9 LakhRevenue · FY 2025 · +314% YoY
- -₹35.1 LakhNet loss · -72% margin
- -₹33.4 LakhEBITDA · -68% margin
- ₹1.1 LakhPaid-up capital
- +106%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Infinityx Innovations Private Limited are on its company page.
Detailed financial statements for Magiic
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Magiic
4 dated milestones of Magiic across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Magiic is founded.
- Funding First funding round.
- Funding Latest funding round, Seed, of $34K.
- Milestone Reaches Minicorn status.
Competitors of Magiic
Magiic has 3 listed competitors in our database, 3 of them funded. They include Battery Smart, SUN Mobility and Esmito.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| batterysmart.in | 2019 | Gurugram, India | $180.36M | 482 | Provider of EV battery-swapping network | |
| sunmobility.com | 2017 | Bengaluru, India | $50M | 473 | Online platform for battery swapping solutions | |
| esmito.com | 2018 | Chennai, India | $1.39M | 31 | Saas & IoT enabled battery management products and solutions for electric vehicles |
Detailed competitors of Magiic
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Magiic
The website of Magiic (magiic.in) receives about 4K visits a month.
- Monthly visits4K
▲ 224.1% vs previous month
Top companies in Electric & Green Mobility
3 companies that operate in the same segment as Magiic (Electric & Green Mobility) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Electric ride-hailing and cab services are provided via mobile app. | 2019 | Mumbai, Maharashtra, India | USD 168.52 M | |||
Shared electric two-wheelers are rented via an online platform. | 2017 | Bengaluru, Karnataka, India | USD 187.54 M | USD 2.14 M | 251 | |
Manufacturer of electric scooters, charging infrastructure, smart helmets, and accessories | 2013 | Bengaluru, Karnataka, India | USD 502.02 M | USD 391.37 M | 1,917 |
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Frequently Asked Questions about Magiic
Magiic was founded in 2019.
Magiic is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Satyam Raj is the CEO of Magiic, as recorded in our data. They have also founded this company.
Magiic is a funded company, having raised a total of $33.52K across 2 funding rounds to date.
The primary company behind Magiic, Infinityx Innovations Private Limited, reported revenue of ₹48.9 Lakh for FY 2025, up 314% year on year.
MAGIC was founded in 2019 in Bengaluru, India, focusing on the electric vehicle sector. Battery swapping solutions for charging stations are provided through the platform, including 2 KWh battery pack swaps and cell swapping via cables. Operations center on enabling efficient EV infrastructure, with services tailored to urban mobility needs in India.
Magiic's top competitors include Battery Smart, SUN Mobility and Esmito.
Magiic offers Battery Swapping System and Modular Battery Packs.
Magiic has 2 investors. Key investors include Startup Karnataka, and D.M. Metalloys.
The valuation of Magiic is $2.13M as of May 2022.
Magiic operates through Infinityx Innovations Private Limited.
The legal entities of Magiic currently have 3 directors, including Shilpa, Sweety, Satyam Raj.