About Magiic
Magiic is a company based in Bengaluru (India) founded in 2019 by Satyam Raj. Magiic has raised $33.52 thousand across 2 funding rounds from investors including Startup Karnataka and D.M. Metalloys. Magiic offers products and services including Battery Swapping System and Modular Battery Packs. Magiic operates in a competitive market with competitors including Battery Smart, SUN Mobility, Esmito, Batterypool and Swapp Design, among others.
- Headquarter Bengaluru, India
- Founders Satyam Raj
- Stage Minicorn
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Sectors
Transportation, Automotive & LogisticsEnergy & Utilities
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Email
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Phone
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Website
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Social
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- Legal Name Infinityx Innovations Private Limited
- Date of Incorporation 28 Jan, 2019
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$6.75 K (USD)4179.17as on Mar 31, 2022
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Net Profit
-$2.17 K (USD)-96.73as on Mar 31, 2022
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EBITDA
-$8.7 K (USD)-760.21as on Mar 31, 2022
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Total Equity Funding
$33.52 K (USD)
in 2 rounds
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Latest Funding Round
$33.52 K (USD), Seed
May 27, 2022
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Investors
Startup Karnataka
& 1 more
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Employee Count
Not available
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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.
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.
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D.M. Metalloys is engaged in supplying stainless steel products.
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Support for startups in Karnataka is delivered through policies, funding, and networking services.
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Investor details for Magiic
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Investments & Acquisitions by Magiic
Investment portfolio details for Magiic
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Financial Statements - Magiic
Detailed financials for Magiic
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Magiic Comparisons
Peer comparison for Magiic
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Competitors of Magiic
Magiic operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Battery Smart, SUN Mobility, Esmito, Batterypool and Swapp Design, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Provider of EV battery-swapping network
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Online platform for battery swapping solutions
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Saas & IoT enabled battery management products and solutions for electric vehicles
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Battery rental and swapping services for electric vehicles are offered.
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Battery swapping solutions for EV charging station operators
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Battery swapping solutions are provided for electric vehicles in India.
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Detailed competitors of Magiic
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Latest news on Magiic
Complete news archive for Magiic
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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 current CEO of Magiic. They have also founded this company.
Magiic is a funded company, having raised a total of $33.52K across 2 funding rounds to date.
Annual revenue of Magiic is $6.75K as on Mar 31, 2022.
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 Batterypool.
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.