About Magma
Magma is a company based in Escondido (United States) founded in 2020. It operates as a SaaS (Software-as-a-Service), and Freemium. Magma has raised $5 million across 1 funding round from investors including GFR Fund, 4Founders Capital and Supernode Global. Magma offers products and services including Magma Collaborative Drawing Platform. Magma operates in a competitive market with competitors including Pixilart, Sketchub, Thangs, ARTXP and FanBook, among others.
- Headquarter Escondido, United States
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Sectors
EducationMedia & Entertainment
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5 M (USD)
in 1 rounds
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Latest Funding Round
$5 M (USD), Seed
Dec 12, 2023
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Investors
GFR Fund
& 6 more
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Employee Count
Employee Count
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Products & Services of Magma
Magma offers a comprehensive portfolio of products and services, including Magma Collaborative Drawing Platform. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
A platform for artists to draw collaboratively online.
Funding Insights of Magma
Magma has successfully raised a total of $5M through 1 strategic funding round. The most recent funding activity was a Seed round of $5 million completed in December 2023. 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 Total Funding
- Total Rounds 1
- Last Round Seed — $5.0M
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First Round
First Round
(12 Dec 2023)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2023 | Amount | Seed - Magma | Valuation | GFR Fund |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Magma
Magma has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include GFR Fund, 4Founders Capital and Supernode Global. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage VR/AR startups are funded by GFR Fund.
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Founded Year | Domain | Location | |
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Venture capital investments are provided to tech startups.
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Founded Year | Domain | Location | |
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Venture capital investing with a focus on diversity and inclusion in the ecosystem.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Magma
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Magma
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magma Comparisons
Competitors of Magma
Magma 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 Pixilart, Sketchub, Thangs, ARTXP and FanBook, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
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Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Magma
Frequently Asked Questions about Magma
When was Magma founded?
Magma was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Where is Magma located?
Magma is headquartered in Escondido, United States. It is registered at Escondido, California, United States.
Who is the current CEO of Magma?
Steve Steve Steve is the current CEO of Magma.
Is Magma a funded company?
Magma is a funded company, having raised a total of $5M across 1 funding round to date. The company's 1st funding round was a Seed of $5M, raised on Dec 12, 2023.
What does Magma do?
A collaborative drawing platform is offered by Magma for digital artists, art communities, game developers, and creative teams. Artists can paint together on shared canvases, chat, and sketch online. Connections are facilitated through fan art events and community engagement. The platform serves various sectors including digital art and game development with solutions for real-time collaboration.
What products or services does Magma offer?
Magma offers Magma Collaborative Drawing Platform.
Who are Magma's investors?
Magma has 7 investors. Key investors include GFR Fund, 4Founders Capital, Supernode Global, Gaingels, and Anorak Ventures.
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