B2B Industrial Solutions Company Magma Raises $5 Million in Series A
Magma, a B2B industrial solutions company, has raised $5 million in a Series A funding round that was led by Capria Ventures. This investment round also included contributions from Avinya Ventures, Sanjiv Rangrass, and existing investors General Catalyst, Accion Venture Lab, and WEH Ventures.
Headquartered in Ahmedabad, Magma has raised funds of $3.3 million earlier from sources such as WEH Ventures, Titan Capital, Accion Venture Lab, and General Catalyst.
As per an Magma press release, the fresh funding will be utilized to develop backward integration capabilities, expand technical investments to enhance procurement agility for customers, and consolidate the company's presence in core manufacturing services.
Established in 2022 by Neal Thakker, Magma wants to act as a B2B provider of industrial solutions that facilitate Indian factories to scale up sustainably and productively. The organization wants to create the backbone of India's manufacturing industry with a vertically integrated value system that includes waste management, biomaterials, renewable energy, raw material tailoring, and logistics.
Magma allows businesses to source high-quality, tailor-made raw materials, run on biomaterials and green power, and deal with waste in a way that turns it into reusable inputs. The firm has taken a value-chain-first strategy that provides consistency, control, and efficiency at scale while still being responsive to customer needs through strong supply-side capabilities.
Magma has developed a diverse customer base of more than 250 industrial customers from different industries, such as packaging, industrial chemicals, and ceramics, since its start. Magma has been profitable and is now trending for a revenue run rate of $250 crore.
Headquartered in Ahmedabad, Magma has raised funds of $3.3 million earlier from sources such as WEH Ventures, Titan Capital, Accion Venture Lab, and General Catalyst.
As per an Magma press release, the fresh funding will be utilized to develop backward integration capabilities, expand technical investments to enhance procurement agility for customers, and consolidate the company's presence in core manufacturing services.
Established in 2022 by Neal Thakker, Magma wants to act as a B2B provider of industrial solutions that facilitate Indian factories to scale up sustainably and productively. The organization wants to create the backbone of India's manufacturing industry with a vertically integrated value system that includes waste management, biomaterials, renewable energy, raw material tailoring, and logistics.
Magma allows businesses to source high-quality, tailor-made raw materials, run on biomaterials and green power, and deal with waste in a way that turns it into reusable inputs. The firm has taken a value-chain-first strategy that provides consistency, control, and efficiency at scale while still being responsive to customer needs through strong supply-side capabilities.
Magma has developed a diverse customer base of more than 250 industrial customers from different industries, such as packaging, industrial chemicals, and ceramics, since its start. Magma has been profitable and is now trending for a revenue run rate of $250 crore.
