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Technology

Magnetto

Status: Funded

Jul 20th 2021 - Aug 19th 2021

Magnetto intends to challenge the traditional retail business by automating the checkout process and eliminating long queues via its app. The company allows shoppers to scan and pay for goods with their smartphones and skip queues using smart gates. The app also claims to facilitate indoor navigation with product locators and allows users to avail loyalty schemes. Magnetto asserts that the commercial rollout of its app has begun with the company planning to develop fully automated stores for one customer with its hardware partner, Modern Expo. Magnetto was nominated for an award at the London Smart Retail Tech Expo. The company intends to become a contender in the retail automation market that is projected to reach $23.58 billion by 2026. Magnetto aspires to connect fully with retail giants like Amazon and Sainsbury's and help them experience automated retail sales seamlessly. The company state it will use the investment to develop new features, grow its team and acquire more customers.

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Magnetto Rating Review

Pitch rating powered by CROWDRATING

Rated on 17/08/2021

Pitch Rated

45%

Insufficient Data

Management

80%

Product

54%

Investment

UNRATED*

* Section unrated owing to insufficient or incomplete information available at the time of rating.

Log in to view amount pledged

    Log in to view target

    £2,320,494
    pre-money valuation

    8.52%
    equity available

    381
    investors

    £579
    pledge per investor

    11970001
    company number

    Active
    company status

    30/04/2019
    incorporated 5 years

    £0.90
    share price

    Previous Funding rounds
    28 Mar 24 Crowdcube £220,431 / 147% 44.67%

What the ratings mean

  • 49% and under
    We suggest potential investors carry out further study of their own
    50-64%
    Room for improvement
    65-79%
    Worth considering
    80%+
    Gold rating, our highest rating

RISK WARNING - The ratings are based on the information provided in the fund raiser’s pitch deck, business plans and financial forecasts which have appeared on a FCA regulated crowdfunding site. Where possible we validate the business plan to public sources such as LinkedIn, Companies House, Credit Agencies and internet searches. We cannot guarantee the information is correct. The ratings report takes no account of the investors/ individual circumstances. Do your own due diligence and get professional advice before investing. Your capital is at risk when investing in private companies.

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Management 80%

Skills 73%
The 'Magnetto' management team is small and comprises skilled professionals whose published LinkedIn profiles include expertise in management, technology, and finance. They have an experienced team in place that consists of a Co-Founder/MD, Co-Founder/CTO, 2 Back End Developer, 1 Mobile Developer, and a Business Analyst. The team is led by the award-winning Co-Founder/MD who specialises in international management, marketing strategy, business planning, venture capital, and financial modelling. The company has not appointed any Finance Head, and the responsibility for the same lies with the Co-Founder/MD. The CTO is skilled in software system analysis, design patterns, project planning, and web services. It was noted that there is no dedicated marketing head in the team at this stage of fundraising.

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Funding progress

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Pitch Rated

77%

Overall

rating powered by

CROWD RATING™

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Log in to view amount pledged

    Log in to view target

    £2,320,494
    pre-money valuation

    8.52%
    equity available

    381
    investors

    £579
    pledge per investor

    11970001
    company number

    Active
    company status

    30/04/2019
    incorporated 5 years

    £0.90
    share price

    Previous Funding rounds
    28 Mar 24 Crowdcube £220,431 / 147% 44.67%
  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

As seen in:

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