Electric mobility solutions provider Magenta on Wednesday said it has closed a Series A1 funding round with USD 22 million equity investment from the UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund. The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in technology-build as it focuses on “sustainable and profitable” growth, Maxson Lewis, Founder and Managing Director, Magenta Mobility said.
