Back-to-Back Fundraises from Ahmedabad Founders: Optimized Electrotech Raises $6M, Magma Secures $5M

Back-to-Back Fundraises from Ahmedabad Founders: Optimized Electrotech Raises $6M, Magma Secures $5M
Some weeks, the ecosystem speaks for itself.

In just couple of days, two Ahmedabad-based startups — Optimized Electrotech and Magma — announced their latest fundraises, each reflecting the kind of focused, long-term building that’s quietly shaping the city’s startup landscape.

..

Optimized Electrotech, co-founded by Sandeep Shah and Dharin Shah, secured $6 million in Series A funding, led by Blume Ventures and Mela Ventures. The round also saw participation from 9Unicorns, Venture Catalysts, and the Rajiv Dadlani Group.

The company is building electro-optic surveillance systems for defence, aerospace, and space — systems that combine advanced imaging with real-time AI analytics. With applications ranging from border security to autonomous ISR missions, they’re betting on a future where intelligence is not just collected, but interpreted on the edge, fast.

This raise will help them scale R&D, expand internationally, and build next-gen payloads designed for extreme environments.

https://x.com/BlumeVentures/status/1912059645361045808

..

Magma, led by Neal Thakker, announced its own $5 million Series A round, backed by Capria Ventures with support from Avinya Ventures, General Catalyst, Accion Venture Lab, and Sanjiv Rangrass.

Magma helps factories manage raw materials, green energy, industrial waste, and logistics through a single B2B platform. With over 250 manufacturers already onboard — including players like Adani, Arvind, and Reliance — they’ve reached a ₹250 crore annual revenue run-rate and are eyeing ₹1,000 crore over the next two years.

This funding will fuel deeper tech development, backward integration, and scale their infra-layer approach for Indian manufacturing.

https://x.com/nealzyneal/status/1912539239792656461

..

PS: I recently made a short video on the rise of the Ahmedabad startup ecosystem — the energy, the builders, and what’s quietly taking shape here.

https://x.com/jatin10/status/1899758803371094380


More stories on eChai

The eChai Effect - In Their Words

“I have no hesitation in saying that my association with eChai has been a gateway into the startup ecosystem. Through this platform, I’ve had the opportunity to connect with many young and dynamic entrepreneurs. These interactions have been immensely enriching - I’ve learned a great deal and have always tried to offer guidance whenever approached. It’s a truly symbiotic relationship that I deeply value, and it wouldn’t have been possible without eChai.”
Syed Nadeem Jafri - Founder, Hearty Mart
Syed Nadeem Jafri
Founder, Hearty Mart
"The eChai platform has been super valuable for me - it has helped me gain a deeper understanding of domains in the startup and tech ecosystem. What stands out most is the celebration of knowledge, professional growth, and entrepreneurship - it’s one of the best for the Indian ecosystem. Along the way, I’ve also been fortunate to make some great friendships and connections too."
Shalin (Shawn) Parikh - Founder, MyCPE One
Shalin (Shawn) Parikh
Founder, MyCPE One
"For me, eChai is a second home. I've been associated with it since the early days, when it was already setting a different tone for how startup communities could work. As a traditional business owner entering the new-age D2C space, eChai supported me in every direction. Over the years, it became my window to the startup world — and also gave me lifelong friends who continue to show up, for business and beyond."
Pankaj Bhimani - Founder, 58miles
Pankaj Bhimani
Founder, 58miles

eChai Partner Brands

eChai Ventures partners with select brands as their growth partner - working together to explore new ideas, open doors, and build momentum across the startup ecosystem.

Academia
Narayana Business School

Narayana Business School is recognized as the preferred destination for top companies seeking exceptional talent and future leaders.

Customer Engagement Platform
Interakt

Transform your business with Whatsapp Business API.

ERP
Biziverse

Powerful ERP and CRM software.

Coworking Spaces
CoKarma

Coworking space and community in Hyderabad.

IT Hardware
Sheth Info

Your go-to destination for branded and refurbished IT hardware

Cloud Telephony
CallHippo

Virtual phone system enhancing productivity, automating workflows, and reducing costs.