Magma Art Collaboration Platform Closes $5M Seed Round Led by GFR Fund with Participation from International Game Publisher Bandai Namco Entertainment
AUSTIN, Texas, Dec. 12, 2023 /PRNewswire/ -- Magma, a collaborative browser-based art creation and project management platform with more than 2 million users across 100+ countries, has closed a Seed Round of funding. The $5M raise was led by Silicon Valley-based GFR Fund, with contributions from Bandai Namco Entertainment 021 Fund, 4founders, Supernode Global, Gaingels, Anorak Ventures, Acequia Capital and leading industry angels. With the funding, innovative new features will be introduced to Magma's all-in-one art platform that allows art teams to easily exchange ideas on one canvas, and improve output and workflows. The Round is also being used to expand the international team including key hires in operations, business development, and sales. Oli Strong has recently joined as the company's CSO/COO and Heather Shelton was hired as the Commercial Director.
- The $5M raise was led by Silicon Valley-based GFR Fund, with contributions from Bandai Namco Entertainment 021 Fund, 4founders, Supernode Global, Gaingels, Anorak Ventures, Acequia Capital and leading industry angels.
- The Round is also being used to expand the international team including key hires in operations, business development, and sales.
- It is the only professional art collaboration and management tool that offers integrated version control, in-app video chat, and generative AI.
- Magma is trusted by industry leaders in animation studios, game development, art studios, leading creative higher education institutions, and more.