B2B building materials marketplace Magma raises $515-K led by WEH Ventures

Ahmedabad-based Magma, a cross border business-to-business (B2B) manufacturing and supply chain enablement platform for building materials, has raised USD 515,000 in pre-seed funding led by WEH Ventures with participation from All in Capital, PointOne Capital, Angellist India and individual angels including Revant Bhate (Man Matters), Subin Mitra and Pratik Tiwari (Groyyo), Pawan Gupta and Abhishek Sharma (Fashinza) and more. Magma, founded in Feb 2022 by Neal Thakker, is a tech-enabled manufacturing platform in building materials which aims to enable growth across all levers for its partner factories. The funding will be used to scale the team across manufacturing clusters in India and invest in product and technology.