Magic - sustainable returns

Magic is a sustainable returns handling platform that reduces returns going back to the warehouse by reselling them to other customers directly. Magic does this by using AI to verify, predict returns, proactively list and sell them on the store as well as other 3rd party marketplaces like ebay and tradera.

Premium Details Available

(Data is self reported)

Monthly Revenue

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Growth rate month over month

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Monthly revenue context

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Number of paying customers

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Monthly active users

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How much have you raised in the past?

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Do you have a lead investor?

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How much of this round already committed?

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When are you aiming to close this round?

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Patent status

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Year founded

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How much time do the founders spend on the business?

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Is there a founder with previous co-founder / c-level at startup experience?

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Is there a founder with previous Sector Experience?

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Is there a founder with previous Exit Experience?

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What percentage of company is owned by founders?

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Is there a women founder with at least 5% of the shares?

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Is there a founder with a EUR / Erasmus MC or TUDelft relation?

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Graduation year from EUR, Erasmus MC or TUDelft

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Premium Details

(Data is self reported)

Monthly Revenue

pre-revenue

Growth rate month over month

>16%

Monthly revenue context

Number of paying customers

Monthly active users

How much have you raised in the past?

165000 euros from Antler and Greens ventures

Do you have a lead investor?

How much of this round already committed?

When are you aiming to close this round?

Patent status

Year founded

2023

How much time do the founders spend on the business?

100%

Is there a founder with previous co-founder / c-level at startup experience?

Yes

Is there a founder with previous Sector Experience?

Yes

Is there a founder with previous Exit Experience?

What percentage of company is owned by founders?

80-99% owned by founders

Is there a women founder with at least 5% of the shares?

Is there a founder with a EUR / Erasmus MC or TUDelft relation?

Graduation year from EUR, Erasmus MC or TUDelft

Basic details

Amount raising

€1,000,000

Country

Sweden

Industry

Ecommerce, AI/ML, Saas, Climate

Website

https://www.usemagic.co/

Founders

Last updated:

October 7, 2023

Key Achievements

We built Magic v1.0 as a fintech product in 3 months from Jan 2023 - March 2023. Launched and learnt quickly. Talked to more users and decided to move towards a B2B saas in the ecom space. Magic v2.0 was also launched in just 3months. This proves that we are a highly iterative, ambitious and efficient team that builds and launches at lightning speeds.
Post launch in 2 weeks we have 2 initial pilot customers using our product in their stores.

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