B2B Industrial Solutions Provider Magma Raises $5M Series A Led by Capria Ventures

Magma, a B2B industrial solutions provider agency, successfully closed a $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 funds raised will be used to strengthen Magma’s position across core factory offerings, expand its backwards integration capabilities, and accelerate technological investments.

Since its launch in August 2022, 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 Rs. 250 crore revenue run rate, with a customer base including industrial leaders like Adani, Reliance, Arvind, and more.

“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,” said Neal Thakker, Founder of Magma. “The future of manufacturing isn’t just automation — it’s intelligent ecosystems that solve for cost, sustainability, and agility together. Magma is that ecosystem.”

“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,” added Thakker.

In the future, 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.