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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.

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.

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