ActOnMagic raises Rs 85 lakhs seed fund led by NetMagic's cofounder.Bengaluru | By J Vignesh, ET Bureau | 13 Feb, 2016, 05:57 AM IST
ActOnMagic, a cloudmanagement startup, has raised a seed fund of around Rs 85 lakhs, led by NetMagic's cofounder Jayabalan Subramanian. The money will be used to scale the product engineering team and sales efforts in India. "We are happy to lose the "Bootstrappers" tag to help us to acquire customers in a heavily competitive cloud market. It is really a rollercoaster ride and it was difficult to attract great talents as boots trappers, the fund will allow us to attract right talent in order to differentiate our offerings from the market and to build stronger ecosystem for our offerings," said Madan Ganesh Velayudham, founder of ActOnMagic.