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Magma raises $5 Mn in Series A round led by Capria Ventures

EntrackrEntrackr · 3m ago
Magma raises $5 Mn in Series A round led by Capria Ventures
Medial

Magma, a B2B industrial solutions provider, has raised a $5 million Series A funding round, led by Capria Ventures. The round also saw participation from Avinya Ventures, Sanjiv Rangrass, and existing backers General Catalyst, Accion Venture Lab, and WEH Ventures. The Ahmedabad-based company had previously raised $3.3 million from General Catalyst, Accion Venture Lab, Titan Capital, WEH Ventures, and more. The fresh funds will be used to strengthen its position across core factory offerings, expand backward integration capabilities, and accelerate technological investments that enhance procurement agility for customers. Founded in 2022 by Neal Thakker, Magma is a B2B industrial solutions provider enabling Indian factories to scale efficiently and sustainably. Through a vertically integrated ecosystem spanning raw material customization, green energy, biomaterials, waste management, and logistics, it aims to build the infrastructure backbone for India’s manufacturing sector. Magma enables factories to access high-quality customized raw materials, power their operations with green energy and biomaterial solutions, and manage waste responsibly by converting it into recyclable inputs. By building deep supply-side capabilities, the company has created a value-chain-first model that delivers consistency, control, and efficiency at scale while staying agile to customer needs. Since its inception, Magma has built a diverse client base of over 250 industrial customers across various sectors, including ceramics, industrial chemicals, and packaging. The company is currently growing at a Rs 250 crore revenue run rate and has been operationally profitable. Looking ahead, Magma aims to achieve a Rs 1,000 crore revenue run rate within the next 24 months, driven by rapid adoption across India’s SME manufacturing sector.

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GVFL backs Magma in extended Series A round

EntrackrEntrackr · 15d ago
GVFL backs Magma in extended Series A round
Medial

GVFL backs Magma in extended Series A round Industrial solutions company Magma has extended its Series A round with a strategic investment from GVFL Ltd., joining an investor group that includes Capria Ventures, General Catalyst, Accion Venture Lab, and others. The Ahmedabad-based company has raised over $8 million to date. Founded in 2022 by Neal Thakker, Magma provides a suite of solutions to factories across verticals including raw materials supply, green energy, waste management, and logistics. It aims to empower factories with efficient, sustainable, and tech-enabled supply chains. The company serves manufacturers across sectors such as ceramics, chemicals, packaging, plastics, and polymers. According to Magma, its integrated offerings spanning specialty raw materials, green energy, and waste management are designed to streamline factory operations and boost productivity. With operations in 10 states and growing, it aspires to build the infrastructure backbone for the future of Indian manufacturing. “GVFL’s entry into our cap table felt intuitive — their deep presence in Gujarat’s industrial landscape and alignment with the Government of Gujarat makes them an incredibly strategic partner. As we scale nationally, having a local growth partner that understands the pulse of traditional industries adds tremendous value. We’re excited to continue building alongside them,” said Neal Thakker, founder and CEO of Magma. The company claims that it is currently operating at a Rs 300 crore annualized revenue run rate, has served over 350 industrial customers, and is already profitable. Over the next 24 months, Magma is targeting a Rs 1,000 crore revenue run rate, driven by expansion into new industrial hubs, product verticals, and strategic partnerships.

InstaAstro raises $2.3 Mn led by Artha Venture Fund

EntrackrEntrackr · 1y ago
InstaAstro raises $2.3 Mn led by Artha Venture Fund
Medial

Online astrology platform InstaAstro has raised Rs 18.50 crore in its pre-Series A round led by Artha Venture Fund. The round also saw participation from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund and Aloke Bajpai, MD & CEO of Ixigo. In November 2021, InstaAstro had raised Rs 3.2 crore in a seed round led by Artha Venture Fund along with Ramakant Sharma’s LogX Ventures. With fresh funds, InstaAstro is launching new spiritual e-commerce, daily pooja, and reiki healing services. As per the company, these offerings would deepen the platform’s user engagement and provide access to a comprehensive spiritual and astrological guidance ecosystem. Founded by Nitin Verma, InstaAstro claims to have over 200,000 monthly app installs, 50,000 minutes per day in consultations, and an ARR of $5 million. It offers horoscopes, tarot readings, and numerology in English, Hindi, and various regional languages. The startup has a total user base of over 5 million users and provided a cumulative consultation of more than 2 crore (20 million) minutes to its subscribers in FY24. The firm has 1,500 astrologers on its platform. It competes with GaneshaSpeaks, AstroTalk, Click Astro, and Bodhi. In the past 12 months, a clutch of astro and spiritual tech startups raised funds. The list included AstroTalk, Vama, Utsav, DevDham (previously DevDarshan), and Melooha. As per Entrackr’s sources, Bodhi is also in talks to raise a new round. AstroTalk had raised the largest funding ($20 million) among the astro and spiritual tech startups.

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures

EntrackrEntrackr · 3m ago
Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures
Medial

Volt14 raises $1.87 Mn in pre-Series A round led by Blume Ventures Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact. Shashank Pathak 05 May 2025 11:12 IST Follow Us New Update Battery technology startup Volt14 has secured $1.87 million in its pre-Series A funding round led by Blume Ventures. Beyond Next Ventures, Spectrum Impact, Supermorpheus, and returning investor Cocoon Capital have also participated. The total funding raised by the Bengaluru-based startup now stands at $4.02 million. The proceeds will be used to scale up manufacturing and expand its team. Founded in 2019 by Animesh Kumar Jha, Volt14 focuses on developing silicon-based anode materials for lithium-ion batteries. It has also developed an in-house cylindrical battery cell format demonstrating energy density enabled by its silicon anode. Volt14 claims that its technology increases silicon content in anodes while maintaining performance levels and is currently being evaluated by multiple battery cell manufacturers. According to market research, the lithium-ion battery sector is projected to exceed $300 billion by 2034, driven by electric vehicle adoption and energy storage expansion. Blume Ventures, the lead investor in this round, is also one of the early backers of Battery Smart, which is the most funded startup in the space.

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