Magfi, an Istanbul, Turkey-based SaaS platform enabling seamless advertising across Telegram and Discord communities using machine learning and AI, has raised $1.1 million in seed funding.
Investors
The round was led by Eleven Ventures, a Sofia, Bulgaria-based pre-seed and seed venture capital firm focused on South and Central Eastern Europe. Since 2012, Eleven has made over 170 investments, supporting tech companies in Fintech, Healthcare, the Future of Work, and Sustainable Food.
Svetozar Georgiev from Eleven Ventures will join Magfi's board to help guide the company’s growth.
Magfi Use of Funds
With the new funding, Magfi plans to expand its team, automate its processes, and enter new markets, with Brazil as the next target.
About Magfi
Founded in 2020, Magfi offers a platform that enables simultaneous advertising across Telegram and Discord communities through machine learning and AI. Its platform, Magfi Ads, facilitates advertising and campaign launches within these communities, and Magfi Monitoring for real-time insights into customer opinions and trends. Since its inception, Magfi has delivered over 1 million ads to 600,000 daily users, with clients including major banks, global e-commerce firms, and top ad agencies.
Funding Details
Company: Magfi
Raised: $1.1M
Round: Seed Round
Funding Date: September 2024
Lead Investor: Eleven Ventures
Additional Investors:
Company Website: https://magfiads.com/
Software Category: Advertising
Source: https://tech.eu/2024/09/03/adtech-magfi-raises-1-1m-in-round-led-by-eleven-ventures/