Magic Raises $10 Million In Seed Round Led By Lerer Hippeau And Major Food Group

Magic, an AI-powered customer relationship management (CRM) startup focused on the hospitality and restaurant industry, has raised $10 million in a seed round led by Lerer Hippeau, with participation from Major Food Group and other investors. Founded and led by CEO Maggie Tang, Magic’s flagship product, Loyalist, helps restaurants leverage customer data to deliver personalized, high-touch experiences that keep guests coming back. Major Food Group—along with acclaimed restaurants such as Le Bernardin, Cosme, and Momofuku—already uses Loyalist to enhance guest relations and streamline operations. Tang, who started her career in fine dining and later launched Magic after graduating from Wharton, aims to modernize the industry’s outdated tech stack through AI-driven insights and tailored communication tools. FOUNDER: Maggie Tang INVESTORS: Lerer Hippeau & Major Food Group ROUND: Seed AMOUNT: $10,000,000 HQ: #NewYork #NY #NewYorkCity #NYC #VentureCapital #Magic #MaggieTang #LererHippeau #MajorFoodGroup #TradedVC

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SoftBank Group To Acquire Majority Stake In 1X Technologies For $6 BillionSoftBank Group is in talks to acquire a majority stake in Norwegian humanoid robotics startup 1X Technologies at a valuation of roughly $6 billion, The Information reported. The deal would deepen SoftBank CEO Masayoshi Son’s push into “Physical AI,” expanding its robotics strategy beyond industrial automation and into consumer-facing robots such as 1X’s NEO. VALUATION: $6,000,000,000 HQ: Tokyo, Japan #VentureCapital #SoftBankGroup #1XTechnologies #TradedVC