Industrial solutions startup Magma has secured $5 million in Series A funding, led by Capria Ventures. The round also saw participation from Avinya Ventures, Sanjiv Rangrass, and existing investors General Catalyst, Accion Venture Lab, and WEH Ventures.
This brings Magma’s total funding to $8.3 million, following its earlier seed round backed by General Catalyst, Titan Capital, Accion Venture Lab, and WEH Ventures.
The new funds will support core factory operations, supply chain integration, and technology upgrades aimed at improving procurement efficiency for manufacturing clients across India.
A Platform Built for Scalable and Sustainable Manufacturing
Founded in 2022 by Neal Thakker, Magma provides industrial manufacturers with a one-stop platform to source raw materials, adopt green energy and biomaterials, and manage waste through recycling solutions. The startup’s vertically integrated approach allows it to serve the entire production lifecycle, from inputs to logistics.
By focusing on supply-side control and process efficiency, Magma delivers consistent quality and faster turnaround times—critical for India’s small and medium manufacturing enterprises (SMEs).
Traction and Revenue Growth
Magma has already built a client base of over 250 industrial businesses across sectors like ceramics, industrial chemicals, and packaging. The company is currently operating at a revenue run rate of ₹250 crore, with a clear path to profitability.
With rising adoption of digital procurement and sustainable manufacturing practices, Magma aims to scale rapidly and reach a ₹1,000 crore revenue run rate within the next 24 months.
Backing from Strategic Investors
Lead investor Capria Ventures focuses on early-stage companies with strong impact and scalability potential. Its participation, along with continued support from General Catalyst and Accion Venture Lab, signals growing investor confidence in Magma’s role in modernizing India’s industrial supply chains.