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Magenta EV Solutions raises ₹12 cr to fuel growth
April 23, 2021
JAN and Lets Venture participated in the latest round of funding
Magenta EV Solutions, an integrated electric vehicle charging solutions company, has raised about ₹12 crore in its Pre-Series A equity round.
JAN (JITO Angel Network) and Lets Venture participated in this round of funding.
In 2018, Magenta was seed funded by HPCL, incubated by Shell and selected under the Microsoft Global Start Up program in 2020.
Incorporated in 2017, Magenta was founded by Maxson Lewis and Darryl Dias who have combined global experience of over 3 decades in management consulting, automotive and renewables industry.
Magenta aims to smart-charge 30 per cent of all Indian EVs totalling to 3,000 GW.hr of power annually by 2030.