Magma Raises $5M in Series A to Power India's Manufacturing Backbone This new capital injection follows the $3.3 million Magma raised earlier from a roster of backers including General Catalyst, Titan Capital, and WEH Ventures
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Magma, an Ahmedabad-based B2B industrial solutions provider, has secured $5 million in a Series A funding round led by Capria Ventures. The round also saw participation from Avinya Ventures, Sanjiv Rangrass, and returning investors General Catalyst, Accion Venture Lab, and WEH Ventures. The announcement was made via a company press release.
This new capital injection follows the $3.3 million Magma raised earlier from a roster of backers including General Catalyst, Titan Capital, and WEH Ventures. With its latest funding, Magma plans to double down on strengthening its core offerings, investing in backward integration, and advancing technology that improves procurement agility for its industrial clients.
Founded in 2022 by Neal Thakker, Magma is building what it calls the "infrastructure backbone" of Indian manufacturing. The company enables factories to source high-quality, customized raw materials, transition to green energy and biomaterials, and manage industrial waste sustainably. Its vertically integrated ecosystem touches everything from materials and logistics to renewable power and recycling solutions, all designed to help factories scale efficiently and responsibly.
Magma's approach is rooted in supply-chain depth. Rather than being a surface-level marketplace, the company embeds itself across the industrial value chain. According to the release, this model has allowed it to maintain consistency and control while remaining agile to customer needs.
In two years, Magma has built a client base of over 250 industrial customers spanning ceramics, chemicals, and packaging. The company is currently operating at a INR 250 crore revenue run rate and is already operationally profitable.
Looking ahead, the company is eyeing significant growth, targeting a INR 1,000 crore revenue run rate within the next 24 months. The expansion will be fueled by increasing adoption from India's small and medium enterprise (SME) manufacturers, who are under pressure to modernize and optimize operations amid global supply chain shifts. With its latest round, Magma is positioning itself not just as a vendor, but as a long-term infrastructure partner for Indian factories.
