Delhi based, mChamp Entertainments, a celebrity and entertainment driven contest app, bags Rs 5 crore seed funding from MoMagic Technologies, a leading Mobile Internet market and App ecosystem player.
mChamp, a fund driven contest app, in the past 9 months of its launch has already conducted 50 “Celebrity Meet and Greets” for mChamp contest(s) players. Gift vouchers, cash prizes, free recharges worth Rs 25 Lakhs, already given, till date. And the App is witnessing a 15% growth month on month, in terms of tie-ups and partnerships with leading FMCG brands, Celebrity shows (TV /Concerts) and Productions houses.
Founder, Paresh Shah, mChamp Entertainments, said, “We are indeed very honored and happy to bag the very first round of seed funding from MoMagic, a Foxconn and MediaTek invested company. Along with being seed funded, we believe our mission of: mChamp being the No 1 Celebrity Contest App, will get the necessary business mentorship by MoMagic in achieving the same.”
Founder & CEO, MoMagic, Arun Gupta, said, “We believe mChamp has all the ingredients to emerge as No 1 App in terms of a connect with the masses wide across. And fits well with MoMagic business plans; hence, the decision to seed fund mChamp.”
“Entertainment and Celebrity are amongst the key sectors, in which MoMagic is looking at innovative ways of organic –inorganic expansion,” further added Arun Gupta.
MoMagic is headquartered in Delhi (NCR) India, and presently operates across 5 major markets in South East Asia.
The company is a leading mobile Internet market and app ecosystem major and holds a significant share of the mobile Internet market. MoMagic believes in business with integrity and passion with emphasis on innovation and entrepreneurship.
Image Source: ShutterStock
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