Magma Secures $5 Million Series-A Funding to Enhance B2B Industrial Solutions

Magma, a leading B2B industrial solutions provider, has successfully raised $5 million in a Series-A funding round, with Capria Ventures at the helm. This funding round also attracted investment from Avinya Ventures, Sanjiv Rangrass, and existing supporters General Catalyst, Accion Venture Lab, and WEH Ventures.

Based in Ahmedabad, the company had earlier secured $3.3 million from its prominent backers including General Catalyst, Accion Venture Lab, Titan Capital, and WEH Ventures.

The newly acquired funds will be directed towards fortifying its core factory offerings, enhancing backward integration capabilities, and accelerating technological advancements that improve procurement agility for its clients, as highlighted in a press release by Magma.

B2B Industrial Solutions by Magma

Founded in 2022 by Neal Thakker, Magma serves as a B2B industrial solutions provider that supports Indian factories in scaling operations efficiently and sustainably. The company has established a vertically integrated ecosystem that encompasses raw material customization, green energy, biomaterials, waste management, and logistics, aspiring to develop the foundational infrastructure for India’s manufacturing industry.

Magma empowers factories to obtain high-quality, customised raw materials, utilise green energy and biomaterial alternatives, and manage waste effectively by transforming it into recyclable inputs. By establishing robust supply-side capabilities, the company has devised a model prioritising value-chain efficiency, control, and consistency at scale—while remaining responsive to customer demands.

Diverse Client Base and Revenue Growth

Since its establishment, Magma has developed a varied client portfolio, with over 250 industrial customers spanning sectors such as ceramics, industrial chemicals, and packaging. Currently, the company is witnessing a revenue run rate of Rs 250 crore and has achieved operational profitability.

Looking forward, Magma aspires to reach a revenue run rate of Rs 1,000 crore within the next 24 months, propelled by swift adoption within India’s SME manufacturing industry.