Magma, a B2B industrial solutions provider, has raised $5 million in a 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 Avinya Ventures and Sanjiv Rangrass (Venture Partner at Capria), along with existing investors, including General Catalyst, Accion Venture Lab and WEH Ventures.
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 (joining as new investors.
The fresh funds raised will be used to strengthen its position across core factory offerings, expand its backward integration capabilities, and accelerate technological investments.
In 2023, Magma raised $3.3 million in a seed funding round led by General Catalyst along with participation from Accion Venture Lab, Titan Capital, WEH ventures and others.
“We want to be the industrial infrastructure layer for India — something every factory plugs into. If you are a manufacturer in India, we want to be the first partner you think of, whether it’s for materials, power, or waste solutions. The future of manufacturing isn’t just automation — it’s intelligent ecosystems that solve for cost, sustainability, and agility together. Magma is that ecosystem,” said Neal Thakker, Founder of Magma.
“Our philosophy is simple: own the entire value chain, optimise every step, and pass efficiency back to the customer while retaining profitability as we grow. We’re now applying this proven model to new sets of manufacturers in laminates, PVC, paints, renewables, coatings, and more — on our path to becoming the de facto operating system for factories across India,” he added.
Founded in 2022 by Neal Thakker, Magma is an integrated manufacturing solutions provider serving factories for their critical procurement needs. Magma provides a wide range of factory solutions which include pre-processed raw materials, innovative waste recycling solutions, energy supplies, and end-to-end logistics management.
Magma serves over 250 industrial goods factories, including those in ceramics, industrial chemicals and industrial packaging.
Magma has built a client base of industrial customers across various sectors, including ceramics, industrial chemicals, and packaging.
The company is currently growing at a ₹250 crore revenue run rate, with a customer base including industrial leaders like Adani, Reliance, Arvind, and more. Magma aims to achieve a Rs. 1,000 crore revenue run rate within the next 24 months, driven by rapid adoption across India’s SME manufacturing sector.
