Ambit represented startup MADMONQ in negotiations for a CZK 32.6 million venture capital investment from Reflex Capital, Presto Ventures, Scale International and two poker players.
Czech startup MADMONQ planned to use the new capital to develop additional products and expand internationally, particularly in France, where it already had its first few thousand customers. The company announced the CZK 32.6 million investment on May 9, 2022.
Dietary supplements for gamers
Founded by Michal Noga, MADMONQ produces dietary supplements for professional and amateur video gamers. Its original product consists of lozenges designed to support concentration and performance while gaming.
At the time of the investment announcement, its product range also included CHAMPION, a supplement focused on gamers’ long-term health. The company offered both individual purchases and subscriptions.
Investors and use of capital
Participants in the investment included Reflex Capital, Presto Ventures and Scale International. Poker players Bertrand “ElkY” Grospellier and Lex Veldhuis also increased their existing investments.
Alongside new product development, the capital was intended to support team expansion and raise awareness of the importance of health within the gaming community. France was the company’s main priority for international expansion.
MADMONQ was already active in France at the time of the announcement and had its first few thousand customers there. It planned to build further growth around the local gaming community, whose scene it was already involved in.
Further international growth
In a press release from February 2023, the company reported that it had sold three million tablets to more than 85,000 customers in more than 40 countries in 2022. International markets accounted for 60% of its revenue that year.
