Founded in 2022 in Ahmedabad by Neal Thakker, Magma provides an integrated “Industrial Operations Stack” that helps factories and contract manufacturers streamline production, increase throughput, and create transparency in India’s fragmented industrial ecosystem. Its platform combines precision manufacturing networks with advanced industrial materials marketed under the TerraMag brand. The company already serves more than 250 industrial customers—including Reliance, Adani and Arvind Group—across chemicals, packaging, polymers, paper, plastics, and ceramics, and operates in 12 Indian states. Magma follows a profitability-first approach while embedding deep proximity to industrial clusters. With fresh capital, it plans to scale operations in Gujarat, Maharashtra, Karnataka, Rajasthan, and Telangana, reinforce its precision manufacturing network, and launch new factory-focused solutions. The firm will also expand Magma Green, a green manufacturing and materials initiative that delivers waste-management and recycled-materials solutions across paper, plastic, agro, and sawdust value chains. To date, Magma has raised $11.3 million, giving it resources to continue accelerating growth among India’s mid-market manufacturers.

Total raised

$3M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2025