INDIA, 19 December, 2025: Magma, Asia’s leading industrial B2B solutions provider, has today announced the close of its Series A round at USD 8 million, following an additional USD 3 million extension to its previously announced USD 5 million raise in April 2025. The USD 3 million fresh infusion includes:

• USD 1.2 million from Capria Ventures, Avinya Ventures, extending their existing investment

• USD 1.3 million from the Gujarat Government’s VC arm, GVFL Ltd.
• USD 0.5 million from AVNM Ventures

With this USD 8 million Series A round, Magma has raised a total of USD 11.3 million to date, including USD 3.3 million in seed funding. 

Magma is building a first-of-its-kind ‘Industrial Operations Stack’ for India’s factories and contract manufacturers. With deep proximity to industrial clusters and a fundamentals-driven, profitability-first approach, the company works closely with mid-market manufacturers to modernise production, improve throughput, and bring transparency to supply and demand in India’s fragmented industrial ecosystem.

The latest capital will be deployed to scale Magma’s operations across Gujarat, Maharashtra, Karnataka, Rajasthan, and Telangana; strengthen the company’s precision manufacturing network; accelerate the growth of TerraMag — its advanced industrial materials brand; and introduce new factory-focused solutions, to be announced shortly. The company will also double down on Magma Green — India’s leading green manufacturing and materials platform delivering waste-management and recycled-materials solutions across the paper, plastic, agro, and sawdust value chains. 

Magma stands at a powerful inflection point: scaling rapidly across India’s industrial backbone and demonstrating that a profitable, sustainable, tech-enabled B2B enterprise from a non-metro city can attract global capital and help redefine the future of Indian manufacturing.

Neal Thakker, Founder and CEO, Magma, said, “The continued backing from our investors reinforces our belief in a proximity-first, fundamentals-led model rooted in India’s manufacturing clusters. 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.”

Surya Mantha, Managing Partner, Capria Ventures, said, “Magma is solving a very hard and very large problem — modernising India’s industrial backbone. Their traction in mid-market manufacturing clusters, the quality of on-ground operations, and Neal’s clarity on building a durable business give us confidence to increase our investment. We believe Magma is positioned to become a defining company in India’s industrial stack, as they address a USD 36 billion opportunity in one of India’s most underserved industrial supply chains.”

Gaurav VK Singhvi, Managing Partner, Avinya Ventures, added, “Over the last six months, Magma has delivered what we look for in an industrial platform at scale: steady revenue growth, improving gross margins and disciplined execution. The revenue mix is now anchored in core verticals, the company has added customers across more than 14 states, and it has remained cash generative. The team’s proximity to manufacturing clusters and focus on fundamentals give us confidence to deepen our ownership. We see a clear path to a larger, more profitable business and are excited to support Magma as it builds toward public market readiness.”