Magma Closes $8 Mn Series A To Scale Across Key Industrial States

by · Inc42

SUMMARY

  • The round was led by Capria Ventures and saw participation from Avinya Ventures, GVFL Ltd (the Gujarat government’s venture arm), and AVNM Ventures
  • GVFL and AVNM joined in the second tranche of this round by infusing $1.3 Mn and 0.5 Mn respectively
  • The funds will help the startups in its precision manufacturing offerings, scale its TerraMag industrial materials brand, and double down on Magma Green