mChamp Entertainment a Delhi based celebrity and entertainment driven contest app raised a funding of Rs 5 crore in seed funding from MoMagic Technologies a mobile internet market and app player. The funding will be used in growth and expansion.
Paresh Shah Founder of 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.”
Arun Gupta Founder & CEO of MoMagic 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.”
MoMagic is headquartered in Delhi and currently operates in 5 major markets in South East Asia. It is a leading mobile internet market and app, and is holding a significant share of the internet market.
mChamp launched its fun driven easy to win contest app in 2015. It offers variety of contests on wide variety of topics, TV to Music to Sports to Bollywood. User collect passes and possibility of winning increases after playing.
In the last few months, mChamp has already conducted 50 celebrity meet and greets for its contest players. Till date it had offered cash prices, gift vouchers, & free recharges of rs 25 lakhs. It also witnessed 15% growth month to month and in terms of tie-ups and partnerships with FMCG brands, production houses and celebrity shows.