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October 20, 2025 - Deals
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her career in fine dining and later launched Magic after graduating from Wharton, aims to modernize the industry’s outdated tech stack through AI-driven insights and tailored communication tools.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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Mach Industries Secures $600 Million Series C Funding At $3.7 Billion ValuationMach Industries, a Huntington Beach, California-based defense tech startup founded and led by 22-year-old Ethan Thornton, raised $600 million in a Series C extension at a $3.7 billion valuation, doubling its $1.8 billion valuation from a $300 million round announced in June. Investors across both tranches include Ribbit Capital, Infinite Capital, Bedrock Capital and Sequoia, with Mach building unmanned military vehicles, weapons, counter-drone systems and propulsion technologies.
FOUNDER: Ethan Thornton
INVESTORS: Ribbit Capital, Infinite Capital, Bedrock Capital & Sequoia
ROUND: Series C
AMOUNT: $600,000,000
VALUATION: $3,700,000,000
HQ: Huntington Beach, California
#VentureCapital #MachIndustries #EthanThornton #TradedVC