Magma raises $3 million led by GVFL; Capria Ventures, others also contributed

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Business-to-business (B2B) industrial solutions provider Magma has raised $3 million, led by the Gujarat government’s venture capital arm GVFL (Gujarat Venture Finance Limited), with participation from Bill Gates-backed Capria Ventures, Avinya Ventures, and others.

With this, the firm closed this round at $8 million in total, after raising $5 million from Capria Ventures, General Catalyst, Accion Venture Lab, and WEH Ventures in April this year. In total, the company has raised $11.3 million to date.

The funds will be utilised to scale Magma’s…



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Magma raises $3 million led by GVFL; Capria Ventures, others also contributed



Business-to-business (B2B) industrial solutions provider Magma has raised $3 million, led by the Gujarat government’s venture capital arm GVFL (Gujarat Venture Finance Limited), with participation from Bill Gates-backed Capria Ventures, Avinya Ventures, and others.

With this, the firm closed this round at $8 million in total, after raising $5 million from Capria Ventures, General Catalyst, Accion Venture Lab, and WEH Ventures in April this year. In total, the company has raised $11.3 million to date.

The funds will be utilised to scale Magma’s…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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