Magenta Mobility

• 16/02/2023
• Series B
• $40,000,000

Integrated electric mobility, EV charging, and technology platform Magenta aims to revolutionize and aggregate the urban freight & transportation segment both for employee transport and last-mile deliveries across the country with its state-of-the-art technology-enabled vehicles.

With an existing fleet of more than 200 3-wheeler and 4-wheeler vehicles on the streets of Bengaluru, plans are afoot to take these integrated services across the country from a long-term perspective. Magenta Mobility’s current list of customers includes all the major e-commerce businesses such as Amazon, Flipkart, Bigbasket, Porter, and Udaan & similar for last mile clean mobility, while it has a strong relationship with the electric vehicle manufacturers such as Tata Motors, Mahindra Electric, Omega Seiki & Euler Motors, to further establish the versatility of the platform as a trusted partner for businesses to ensure sustainability & cost-effectiveness.

Magenta is developing an electric ecosystem both for employee transport and last-mile deliveries, for the e-Commerce, FMCG, FMCD, Pharmaceuticals, Food, Courier & Logistics companies. Magenta grounds itself in unmatched full-stack software technology and has implemented a connected Fleet Management System for its EV delivery & logistics services.

Magenta is a Series A funded company backed by HPCL and marquee investors such as JITO Angel Network, LetsVenture, and renowned Indian American philanthropist, Dr. Kiran Patel.

---

---