Magic Square Valuation Soars Ahead of Next Funding Round

Magic Square, which is a community-driven multi-chain crypto app store, is aiming to raise $4.4 million in its next funding round with a valuation of $120 million, the startup’s CEO Andrey Nayman revealed to TechCrunch.

It has onboarded Crypto.com Capital, the venture arm of a popular crypto exchange, as a strategic investor. The partnership will allow Magic Square to leverage the projects listed on Crypto.com for onboarding developers.

“Adding Crypto.com Capital to our list of top-tier investors is a testament to the progress we are making bringing web3 apps to the masses,” Nayman said.

We are pleased to have @Cryptocom_Cap as one of our strategic investors🥳🥳 Our vision is to open the #crypto world to everyone via Magic Store💪 #buidl for the better together!

Read the full article here👇https://t.co/kCeF7Tasw3

— Magic Square (@MagicSquareio) October 12, 2022

The crypto startup has already raised $3 million earlier this year in a seed funding round
Funding Round

Startups look to raise capital can participate in a funding round. These refers to the various rounds of funding that occur upon proof of concept, customer base growth, and the probability of success. While they are various types of funding rounds, the most commonly seen in startups include the following funding rounds: Seed, Series A Fundraising, Series B Fundraising, and Series C Fundraising. In order for a funding round to take place, a valuation must be performed by analysts for the business in question. Common factors that analysts use for valuations include market size, risk, management, and historical transparency. Types of Funding RoundsThe seed funding round officially kicks off a startup’s equity fundraising process. Used by startups to finance the beginning stages of its business, some proceeds of seed funding may go towards product development and market research.Common investors include angel investors, friends, family, and venture capital firms.Companies that emerge out of the seed funding round that has gone on to prove its ability to build a consumer base while generating a regularly occurring revenue can participate in Series A Fundraising.Businesses that wish to opt-in to a Series A funding round must also possess a strong business strategy to…