Magma Closes $8 Million in Series A Funding for Industrial B2B Solutions

Magma has successfully completed its Series A funding round, raising $8 million. This follows an additional $3 million extension to its previously announced $5 million funding in April 2025. The recent $3 million investment comprises $1.2 million from existing investors Capria Ventures and Avinya Ventures, $1.3 million from the Gujarat Government’s venture capital branch, GVFL, and $0.5 million from AVNM Ventures. To date, Magma has raised a total of $11.3 million, which includes $3.3 million in seed funding.

Strategic Use of Funds

The funds will be directed towards expanding operations in Gujarat, Maharashtra, Karnataka, Rajasthan, and Telangana. The money will aid in strengthening precision manufacturing networks, accelerating the growth of TerraMag, its innovative industrial materials brand, and rolling out new factory-focused solutions, as detailed in a press release by Magma.

About Magma

Founded in 2022 by Neal Thakker, Magma is developing an ‘Industrial Operations Stack’ tailored for factories and contract manufacturers. The company leverages its close ties to industrial clusters and maintains a fundamentals-driven, profitability-first approach. Its focus is on collaborating with mid-market manufacturers to modernise production processes, enhance throughput, and increase transparency regarding supply and demand within India’s fragmented industrial landscape.

Client Base and Market Impact

Magma boasts more than 250 industrial clients spanning sectors such as ceramics, industrial chemicals, paper, polymers, plastics, and packaging. Notable clients include Reliance, Adani, and the Arvind Group. With a presence in 12 states across India, the startup caters to a diverse array of industries, including chemicals, packaging, polymers, paper, and ceramics.

Focus on Sustainable Manufacturing

The Ahmedabad-based startup is committed to investing further in Magma Green, an initiative that promotes green manufacturing and provides waste-management and recycled-material solutions across various value chains, including paper, plastics, agro, and sawdust.

About Capria Ventures

Capria Ventures is a venture capital firm with a focus on the global south, investing in applied AI innovations that are poised to reshape emerging markets like India, Southeast Asia, Africa, and Latin America. Managing over $200 million in assets under management, the firm supports high-growth startups that embrace AI to revolutionise foundational sectors, including jobs, finance, healthcare, agriculture, and enterprise solutions.