Using this investment, the start-up is looking to expand its customer base from 500 daily installations to the projected 2500
New Delhi: In two rounds of investments, Mitgo, a global IT/MarTech company has invested 500,000 USD in Manganum. Additional capital will enable the project to test new marketing channels and user acquisition methods. This step is a part of Mitgo’s global investment plan to invest 100 million USD by 2025. The company is going to utilize a significant share of these funds to expand its footprint in India by acquiring and supporting promising projects.
Launched in 2022, Manganum is an extension that turns Google Chrome into a productivity workspace, enhancing user organisation, focus and multitasking ability. Its sidebar provides simple, instant access to productivity apps such as ChatGPT, Google Calendar, Google Tasks, Google Keep, Google Translate and Todoist, regardless of the website a user is browsing.
“Our mission is to make desktop browsers more productive, turning them into organised and efficient workspaces with functionality beyond what was previously possible. And, being an extension, we don’t ask users to change their browser – we just make their Chrome better.” – Uladzimir Yankovich, Founder of Manganum.
Manganum has over 100,000 installs and 20,000 daily active users. A large part of Mitgo’s investment is to be spent on testing new marketing channels for Manganum with the aim of growing the extension’s customer base from the current ~500 organic daily installations to the projected 2,500.
Funds will also be allocated to technical development. Later this year, Google will roll out a new feature that allows third-party extensions access to Chrome’s own sidebar. Manganum plans to be first in line and, with Mitgo’s investment, the team can accelerate their preparations for it.
In addition to the investment, Mitgo is offering HR services in helping to attract new talent to the project. Alexander Bachmann, Mitgo Founder and CEO, has also taken the role of project mentor, sharing his extensive experience in developing, launching and monetising businesses.
“Manganum helps its users to navigate through a sea of apps, to-do lists and services. It can help a lot of people – myself included”, states Alexander Bachmann, adding “While browser changes traditionally come slowly, Uladzimir is a strong founder who sees new opportunities and takes advantage of them, constantly improving the product to better cater to the needs of its growing audience.”
Manganum estimates the potential audience of its product at 25 million users worldwide, with an expected revenue of 120 million USD annually. For Mitgo, this is an opportunity to help Manganum reach this goal and branch out further into the B2C sector. It’s also part of Mitgo’s global investment plan to invest 100 million USD by 2025, a plan that includes recent investment into mobile meditation app, Practico.
About Mitgo:
Mitgo is a global tech company focused on delivering innovative solutions and promoting entrepreneurship. Mitgo offers solutions and services in the MarTech, FinTech, Smart Shopping and IT-driven Startup Incubation sectors. These currently include Admitad partner network, native advertising platform TakeAds, coupon and voucher advertising solutions FairSavings, influencer marketing platform ConvertSocial, affiliate and referral tracking software Tapfiliate, education, and vocational training network Univibes, among others.
Additionally, Mitgo functions as a venture builder for startups and individual entrepreneurs, and as an investor network, seeking to support promising new IT projects.
The company, headquartered in Neckarsulm, Germany, employs over 800 specialists across 10+ offices, spanning the USA (Chicago), Europe (Amsterdam, Warsaw, Kyiv, and Tbilisi), Brasil (São Paulo), the UAE (Dubai), and India (Gurugram).
