Amount Raised
$22 Million
Round Type
Funding Round
Navi MumbaiTransportationAutomotiveLogisticslogistics & supply chainDescription
Electric mobility solutions provider Magenta on Wednesday said it has closed a Series A1 funding round with $22 million equity investment from the UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund. The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in technology-build as it focuses on "sustainable and profitable" growth, Maxson Lewis, Founder and Managing Director, Magenta Mobility said. Besides, as part of this investment, bp's joint venture with Reliance--Jio-bp-- will be the exclusive EV charging partner for Magenta Mobility's fleet, he said. Seed-funded by HPCL, the Pune-based company has 750 electric vehicles operating in the last-mile delivery space across seven cities- Bengaluru, Delhi, Mumbai, Hyderabad, Gurugram, Mysuru and Noida - catering to some of the leading e-commerce, food and online delivery players in the country
Quick answer
Magenta Mobility raised $22 Million in a Funding Round round, dated April 5, 2023. Magenta Mobility is based in Navi Mumbai, Maharashtra, India.
- How much did Magenta Mobility raise?
- Magenta Mobility raised $22 Million in a Funding Round round on April 5, 2023.
- What does Magenta Mobility do?
- Magenta Mobility is firmly committed to India's decarbonization goals.
- Where is Magenta Mobility based and how big is it?
- Magenta Mobility is based in Navi Mumbai, Maharashtra, India. Fundz records about 340 employees.
- Who are the decision-makers at Magenta Mobility?
- Fundz holds 1 contact at Magenta Mobility. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Transportation and Automotive around the same time
Companies in the same sectors as Magenta Mobility that raised within 45 days of this round, from Fundz verified event records.
- Zyngo raised $5M (Funding Round) on May 9, 2023.
- Agraga raised $8.5M (Funding Round) on May 16, 2023.
- Warehowz raised $2.3M (Seed) on May 1, 2023.
- Slip Robotics raised $11M on April 28, 2023.
- Chargel raised $2.5M (Seed) on April 20, 2023.
- Frayt Technologies raised $7M (Funding Round) on April 11, 2023.
Who to call at Magenta Mobility, and when
A new round usually means Magenta Mobility is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Magenta Mobility raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Magenta Mobility, from your own LinkedIn network
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Related People
Magenta Mobility raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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