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EV firm Magenta to raise $30-M

DealStreetAsia  

Navi Mumbai-headquartered electric vehicle charging and mobility solutions company Magenta is looking to raise USD 20-30 million in a Series B funding round in a couple of weeks. The round will be led by international investors and see participation from existing ones. Seed-funded by HPCL in 2018, and backed by the Microsoft Global Start-up Programme, Magenta had raised pre-series funding from JITO Angel Network and Lets Ventures. It was followed by a USD 15-million funding by serial entrepreneur Kiran Patel in May 2021.