Magma raises $5 million in a Series A funding round led by Capria Ventures to expand its industrial solutions for manufacturers in India.

Information on the Target

Magma is a prominent provider of B2B industrial solutions based in Ahmedabad, India, having recently secured $5 million in a Series A funding round. The investment was spearheaded by Capria Ventures and attracted participation from several existing investors, including General Catalyst, Accion Venture Lab, and WEH Ventures, who chose to increase their contributions. New entrants to the funding round included Avinya Ventures and Sanjiv Rangrass, a veteran in the B2B space and Venture Partner at Capria. The procured funds are aimed at reinforcing Magma's core factory offerings, enhancing its backward integration capabilities, and accelerating technological investments to improve procurement agility for their clientele.

Magma aspires to establish itself as the foundational industrial infrastructure for India, positioning itself as the primary partner for manufacturers seeking solutions in materials, power, or waste management. The company's goal is to create intelligent ecosystems within manufacturing that address cost-efficiency, sustainability, and agility. Notably, Magma integrates multiple touchpoints across the factory lifecycle, providing access to premium customized raw materials, fostering green energy operations, and promoting responsible waste management through recycling.

Industry Overview in India

The manufacturing sector in India has emerged as a critical component of economic development, contributing significantly to the country's GDP. The industry is characterized by its vast diversity, ranging from heavy industries to smal