Funding round
Nomagic Seed
Nomagic, which works in AI-Powered robotics solutions development in Warsaw, raised $8.6M in a Seed round announced on 4 Feb 2020, led by Khosla Ventures and Hoxton Ventures. 5 firms took part. It is Nomagic's first venture round on record.
$8.6M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Nomagic did not disclose a valuation in this round. It is Nomagic's first venture round on record, 3 years after it was founded in 2017. It is 12% of the $75M Nomagic has raised in the venture rounds on record. Nomagic raised again 27 months later: a Series A round of $22M in May 2022.
Nomagic's funding rounds
Nomagic has 3 venture rounds on record. This one is highlighted.
Investors
Who put money in
Khosla Ventures and Hoxton Ventures led the round with 3 other firms.
Lead investors
- Khosla Ventures backs 396 venture-backed companies new investor
- Hoxton Ventures backs 50 venture-backed companies new investor
Also in the round
- backs 55 venture-backed companies new investor
- backs 51 venture-backed companies new investor
- backs 25 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
12 Seed rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $3.0M, and this round was 2.9 times the median. The closest in time, other companies' Seed rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 16 Dec 2019 | $5.0M | not disclosed | NextGen Venture Partners |
| Industrial Machinery & Supplies | 5 Nov 2019 | $250K | not disclosed | not named |
| Industrial Machinery & Supplies | 15 Oct 2019 | $3.0M | not disclosed | Point72 Ventures |
| Industrial Machinery & Supplies | 27 Jul 2020 | $8.6M | not disclosed | not named |
| Industrial Machinery & Supplies | 31 Jul 2020 | undisclosed | not disclosed | not named |
| Industrial Machinery & Supplies | 24 Aug 2020 | $13M | not disclosed | not named |
| Industrial Machinery & Supplies | 24 Sep 2020 | $5.0M | not disclosed | Fonds de solidarité FTQ and Export Development Canada |
| Industrial Machinery & Supplies | 30 Sep 2020 | $2.9M | not disclosed | not named |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Nomagic raise in its Seed round?
Nomagic raised $8.6M in its Seed round, announced in Feb 2020.
Who led Nomagic's Seed round?
Khosla Ventures and Hoxton Ventures led it, with DN Capital, Capnamic and Manta Ray.
What was Nomagic's valuation at the Seed round?
It was not disclosed.
How does it compare with other Seed rounds in Industrial Machinery & Supplies?
12 Seed rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $3.0M, and this round was 2.9 times the median.
Did Nomagic raise again after this round?
Yes: a Series A round in May 2022 of $22M.