Magma, the fast-growing B2B industrial solutions startup, has raised $5 million in a Series-A funding round led by Capria Ventures, with additional backing from Avinya Ventures, Sanjiv Rangrass, and existing investors General Catalyst, Accion Venture Lab, and WEH Ventures.
This round builds on the company’s previous $3.3 million fundraise, which saw participation from General Catalyst, Titan Capital, and other prominent early-stage backers.
The newly raised capital will help Magma deepen its core industrial offerings, enhance backward integration, and scale up its technology stack to boost procurement agility for its growing customer base.
Launched in 2022 by Neal Thakker, Magma is on a mission to transform how Indian factories operate by offering a vertically integrated ecosystem that spans customized raw materials, green energy solutions, biomaterials, waste recycling, and logistics.
The startup positions itself as a crucial enabler of sustainable and efficient growth for India’s manufacturing landscape.
Also Read: Swiggy Enters the Gig Economy with AI-Led Platform ‘Pyng’
In just two years, Magma has earned the trust of over 250 industrial clients across sectors like ceramics, chemicals, and packaging. With a current Rs 250 crore revenue run rate and operational profitability, the company is gearing up for its next big leap.
Looking ahead, Magma is targeting a Rs 1,000 crore revenue run rate in the next 24 months, fueled by its growing footprint in India’s SME manufacturing sector.
