MagTapp Secures Funding in Bridge Rounds! 💰

Mumbai's MagTapp Technologies, an image browser and document-reading application, recently disclosed that it has successfully raised funding in a bridge round.

• New Funding Round: MagTapp has secured Rs 1 crore ($120k) in a new round of funding. 💸

• Investment Use: The latest infusion of capital will aid in the further development of its AI-based AdTech system. 💡

• Key Goal: MagTapp aims to integrate its visual meaning API with its indigenous Ad network to maximize monetization. 🚀

• Next Steps: The company is in the process of raising Series A funding, with Lakhani Financial Services as an advisory partner. 📈

• Unique Selling Proposition: MagTapp allows users to comprehend complex words by providing visual representations. The solution combines a visual dictionary with a web browser and document reader for a seamless reading experience. 📚

• Recent Partnerships: The company has established partnerships with media companies like the NewsX group, including publications such as The Daily Guardian and Sunday Guardian. 📰

Launched in 2019 by a trio of friends - Satyapal Chandra, Rohan Singh, and Abhishek Singh - MagTapp has managed to secure Rs 11 crore ($1.3m) in funding cumulatively. The application is now utilized in 95 countries and supports 41 languages. 🌍