VC Fund Investments
EV services provider Magenta Mobility raises Rs.100-Cr from BP Tech, Morgan Stanley, others
Mumbai-based electric mobility startup Magenta Mobility has raised INR 100 crore (about USD 11.5 million) in a mix of equity and debt in its pre-Series B round. The startup has raised INR 50 crore from its existing investors BP Tech Ventures and Morgan Stanley India Infrastructure, with both investing INR 25 crore each. The remaining INR 50 crore was raised via debt funding.Magenta Mobility is also eyeing launching a Series B round of INR 400-500 crore in the coming months.Magenta Mobility provides electric vehicles (EVs) and related services, including charging infrastructure and fleet management software, for last-mile delivery and other logistics needs, across industries. The firm’s customers include Flipkart Grocery, Amazon UFF, D-Mart, Zomato Hyperpure, Delhivery, and DHL.
Between Nov 2019 and Dec 2024, Magenta Mobility had attracted about USD 33 M from BP Ventures, Morgan Stanley, and SIDBI VC.For FY24, Magenta Mobility had reported about INR 36 Cr in Operating Income and about INR 46 Cr in Net loss.
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