Magma Secures $5Mn In Series A Round Led by Capria Ventures

B2B manufacturing startup MagmaMagma has raised $5 million (around Rs 42 Cr) in a Series A funding round led by Capria Ventures. 

Existing investors General Catalyst, Accion Venture Lab and WEH Ventures, along with new investors Avinya Ventures and Sanjiv Rangrass, Venture Partner at Capria, also participated in this round.

The startup will use the new funds to grow its factory services, improve supply chain integration and upgrade technology for better procurement.

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“We want to be the industrial infrastructure layer for India—something every factory plugs into. If you're a manufacturer in India, we want to be the first partner you think of, whether it’s for materials, power, or waste solutions,” said Neal Thakker, Founder of Magma. 

“We are pleased to partner with Magma as they address a $100 billion opportunity in one of India’s most underserved industrial supply chains. Their ability to ease procurement and unlock underutilized capacity impressed us from the outset. Neal and his team have been ahead of the curve in building a capital-efficient, high-growth business with strong fundamentals and clear expansion levers across products, sectors, and geographies. We believe they are well-positioned to scale Magma into a category-defining company,” said Surya Mantha, Managing Partner, Capria Ventures. 

In 2023, Magma raised $3.3 million in funding from investors such as General Catalyst, Accion Venture Lab, Titan Capital, and WEH Ventures.

About Magma 

Founded in 2022 by Neal Thakker, the Ahmedabad-based Magma follows a supply-chain-focused model to help factories get customized raw materials, green energy, eco-friendly materials and systems that turn industrial waste into reusable resources.

Magma currently works with over 250 industrial clients in sectors like ceramics, chemicals and packaging. 

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