Electric mobility solutions provider Magenta recently secured Series A1 funding of US$ 22 million equity investment from the UK-headquartered British Petroleum and Morgan Stanley India Infrastructure-managed investment fund.
Magenta will use this funding for fleet and geographical expansion besides investing a portion of the funding in technology.
Magenta Mobility started in the year 2017 and based in Gurugram,Haryana, India. It is focused on assisting farms, industries, and businesses transition to electric vehicles.
Source and more: Energetica India
