Manufacturing and supply chain enablement platform for building materials Magma raised $515K in pre-seed from WEH Ventures where All in Capital, PointOne Capital, Angelist India and angel investors including Revant Bhate (Man Matters), Subin Mitra and Pratik Tiwari (Groyyo), Pawan Gupta and Abhishek Sharma (Fashinza) also participated.
Magma is a construction materials manufacturing platform. To provide supply chain services from the supplier to the customer, the platform collaborates with factories and raw material suppliers. Magma stated that the incoming funds will be used to expand the team and invest in its product and technology. Magma claims to have over 55 partner factories on board. The global building materials market is expected to reach $1 trillion by 2026, with SMEs aiming for $200 billion.