VC Fund Investments
Industrial solutions provider Magma attracts $5-M led by Capria Ventures
Ahmedabad-based B2B (business-to-business) manufacturing startup Magma has raised USD 5 million (around INR 42 crore) in a Series A funding round led by Capria Ventures.The round also saw participation from Avinya Ventures and Capria Ventures’ partner Sanjiv Rangrass, as well as existing investors including General Catalyst, Accion Venture Lab and WEH Ventures.Magma would deploy the fresh proceeds to boost its core factory offerings, expand backward integration capabilities and push for technological investments.Founded in 2022 by Neal Thakker, Magma is an industrial solutions provider that helps factories in processing and sourcing raw material, green energy solutions, industrial waste recycling, biomaterials and logistic services.
Between Jun 2022 and Jan 2023, Magma had attracted about USD 3.83 M from Accion International, All In Capital, General Catalyst Partners, WEH Ventures, PointOne Capital, WEH Ventures and others.
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