Capria Ventures is leading a $5 million Series-A investment round for B2B industrial solutions supplier Magma. Avinya Ventures, Sanjiv Rangrass, and its current funders General Catalyst, Accion Venture Lab, and WEH Ventures also participated in the round.
The Ahmedabad-based business has already raised $3.3 million from a number of sources, including WEH Ventures, Titan Capital, Accion Venture Lab, and General Catalyst.
According to a news release from Magma, the new funding will be utilized to improve backward integration capabilities, boost technical expenditures that improve procurement agility for clients, and fortify the company's position across core manufacturing services.
Neal Thakker founded Magma in 2022 as a business-to-business provider of industrial solutions that help Indian factories grow responsibly and effectively. It seeks to create the backbone of India's manufacturing industry through a vertically integrated ecosystem that includes waste management, biomaterials, green energy, raw material customization, and logistics.
According to Magma, it makes it possible for industries to obtain premium, tailored raw materials, run their operations using biomaterials and green energy, and properly manage trash by turning it into recyclable inputs. The company has developed a value-chain-first strategy that offers consistency, control, and efficiency at scale while remaining responsive to client demands by establishing strong supply-side capabilities.
Since its founding, Magma claims to have amassed a varied clientele of more than 250 industrial clients from a range of industries, such as packaging, industrial chemicals, and ceramics. The business has been operating profitably and is currently increasing at a revenue run rate of Rs. 250 crore.
