Prague's MADMONQ has secured €500,000 in seed financing from AdRock Ventures, poker player Bertrand Grospellier, Twitch streamer Lex Veldhuis, content creator Radek Starý, Lukáš Křítek, and entrepreneur Vojta Roček.
The funding is slated to be used towards new product development, scaling the team, and paving the way for a Series A round, planned for late 2021.
“MADMONQ has incredible brand loyalty, with the most passionate gamers even tattooing the logo on their bodies. Their unconventional approach to making health a priority in the industry is unlike anything I have ever seen. This combined with the fact that the company has already proven itself to be profitable made investing an easy decision,” commented Grospellier.
As a bootstrapped company, MADMONQ has achieved seven-figure revenues in 2020, and been profitable since its inception in 2017.
The company's founder Michal Noga is a long-time gamer, and walked away from a business development position at Czech consumer healthcare company Walmark where he was responsible for finding and sourcing new products, as well as drug licensing, and contract negotiations.
So when it comes to knowing what's what and what's going to be good for the gaming mind, Noga is no stranger. He's also not afraid to speak openly to an entire industry, as he recently penned in an open letter,
"You may not realize this, but you often push us to our limits. You push us so hard, that we often forget about our health. And frankly, you have the power to affect our body and habits in ways we’d carry with us till the rest of our lives."
MADMONQ is a chewable supplement comprised of organic caffeine, tea extracts, non-essential amino acids, adaptogenic herbs, and other nutrient-dense ingredients including Spectra which is formulated from nutrients from 29 herbs, plants, and fruits.
The company reports that their product provides better immediate performance benefits in terms of focus, energy, and reaction time; boosts long-term health by supporting memory, eye health, and metabolism; and provides a better ability to adapt to stress.
“At MADMONQ, we envision a world where health and performance is a priority—not an afterthought. Although the supplement market alone is worth at least $100BN+, esports players and gamers are largely neglected and have yet received nutritional supplements tailored to meet their unique needs. Gaming is a grueling and physically demanding activity and, like traditional athletes, gamers need fuel that supports endurance, mental clarity, and overall health. With this funding, we can continue providing supplements with world-renowned ingredients while also helping gamers to develop habits, tools, and routines that will level up their performance,” commented Noga.