Magma, a B2B industrial solutions provider, has raised $5 million Series-A funding round, led by Capria Ventures. The funding round comprised a mix of equity and debt financing. The round also saw participation from existing backers like General Catalyst, Accion Venture Lab, and WEH Ventures, along with Avinya Ventures and B2B veteran Sanjiv Rangrass (Venture Partner at Capria) joining as new investors. The startup plans to use the fresh capital to expand its core factory offerings, strengthen backward integration, and invest in technology to improve procurement processes. “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 as reported in media. As per the VC website, Magma is rewriting how SME manufacturers procure specialty chemicals, utilise green energy, and manage waste. By embedding itself into factory operations, unlocking cost efficiencies, and expanding into high-margin products, it has the markings of a category leader. We’re thrilled to back Neal and the Magma team on their journey to transform SME manufacturing in India!
