Total amount raised
$51.9 Million
Latest funding date
2018-11-06
Location
Magic AI has successfully secured investments from prominent institutions such as iFlytek, Qualcomm, and Chuangyebang. The company specializes in providing a comprehensive suite of virtual human solutions, including the AmazingMe Virtual Human Platform and the VLive Virtual Human Live Streaming System.
Founded in 2016, Magic AI has rapidly grown to become a key player in the metaverse technology space. Keep reading to explore the intricacies of Magic AI's fundraising journey and the investors backing this innovative platform.
What Is MAGIC AI?
Magic AI, officially known as Beijing Magic AI Technology Co., Ltd., is a virtual human technology company focused on the metaverse. Founded in January 2016, the company provides solutions for virtual human creation, content creation, and platform services.
Headquartered in Beijing, Magic AI also has an R&D center in Chengdu and a subsidiary in Hangzhou. The company has received significant investments from institutions like iFlytek, Qualcomm, and Entrepreneur Magazine, and collaborates with major tech and media organizations.
How Much Funding Has MAGIC AI Raised?
- Angel Round
- Amount Raised: USD 450,000
- Date: February 2017
- Series Unknown
- Amount Raised: USD 50,000,000
- Date: November 2017
- Series A
- Amount Raised: USD 1,450,000
- Date: November 2018
- Lead Investors: iFlytek
Magic AI has raised a total of USD 51,900,000 across all funding rounds.
Key Investors
- iFlytek
- Details: iFlytek is a Chinese information technology company established in 1999, specializing in voice recognition and artificial intelligence. The company is known for its advanced AI technologies and has a significant presence in the Chinese market.
- Investment Focus Areas: AI, voice recognition, education.
- Notable Investments: Magic AI, Mobvoi, Unisound.
- Qualcomm
- Details: Qualcomm is an American multinational corporation headquartered in San Diego, California. It is a leading player in the semiconductor and telecommunications equipment industry.
- Investment Focus Areas: Semiconductors, telecommunications, IoT.
- Notable Investments: Magic AI, Xiaomi, Zoom.
- Chuangyebang
- Details: Chuangyebang is a Chinese venture capital firm that focuses on early-stage investments. The firm is known for supporting innovative startups in various technology sectors.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Magic AI, Meituan, Didi Chuxing.
- Entrepreneur Magazine
- Details: Entrepreneur Magazine is a leading publication that provides insights and resources for entrepreneurs and small business owners. The magazine also engages in venture capital activities to support emerging businesses.
- Investment Focus Areas: Media, technology, startups.
- Notable Investments: Magic AI, Canva, Slack.
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