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Ahmedabad-based B2B industrial solutions provider Magma has announced the closure of its Series A funding round at USD 8 million, following a USD 3 million extension to its earlier USD 5 million raise announced in April 2025.
The latest extension includes participation from existing investors Capria Ventures and Avinya Ventures, along with new investment from GVFL Ltd, the venture capital arm of the Gujarat government, and AVNM Ventures.
The USD 3 million extension comprises USD 1.2 million from Capria Ventures and Avinya Ventures, USD 1.3 million from GVFL Ltd, and USD 0.5 million from AVNM Ventures.
With the completion of this round, Magma has raised a total of USD 11.3 million to date, including USD 3.3 million secured during its seed round.
The newly raised capital will be deployed to scale Magma's operations across Gujarat, Maharashtra, Karnataka, Rajasthan, and Telangana. The company plans to strengthen its precision manufacturing network and expand TerraMag, its advanced industrial materials brand.
It will also continue to build Magma Green, a platform focused on waste management and recycled material solutions serving paper, plastic, agro, and sawdust value chains. In addition, Magma is preparing to introduce new factory focused solutions in the coming months.
Founded in 2022 by Neal Thakker, Magma offers a range of services to factories, including raw material supply, green energy solutions, waste management, and logistics support.
Since its inception, the company claims to have worked with more than 250 industrial customers across sectors such as ceramics, industrial chemicals, paper, polymers, plastics, and packaging. Its client base includes large groups such as Reliance, Adani, and the Arvind Group.
Magma currently operates across 12 states in India and works closely with mid market manufacturers to modernise production processes, improve throughput, and improve visibility across supply and demand in a fragmented industrial ecosystem.
Neal Thakker, Founder and CEO, Magma, said, "With this round, we are scaling our footprint across key industrial belts and building the backbone for India's next wave of precision manufacturing. We are on track to reach an INR 1,000 crore revenue run rate within the next 18 months."
Magma competes with companies such as Zetwerk, Infra Market, Moglix, and OfBusiness.
This article was originally published by the 
