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


Startup Stream

The eChai Effect - In Their Words

“When we launched LegalWiz.in back in 2016, concept of procuring legal and compliance services through a digital commerce platform wasn't as prominent in India. eChai played a significant role in providing the early adopters, and building significant positioning in the startup fraternity. Overtime, eChai grew to be a massive network of like-minded entrepreneurs and extended that benefit to all the members in a true "co-rise" spirit. I personally love to attend eChai events, learn from subject matter experts who share relatable and actionable insights and experiences. For startup journeys, it is so important to be surrounded by people who can add relevance, perspective, and push you to do better. Most importantly a group of people where you aren't being judged about things going right or wrong, but be a motivational force that keeps you going, yet keeping you in check. eChai is that place for me!”
Shrijay Sheth - Founder at LegalWiz.in and Hire4Higher Consulting
Shrijay Sheth
Founder at LegalWiz.in and Hire4Higher Consulting
"eChai has been a game changer in my journey. It connected me with real people, real support and real opportunities. From building HMMBiz to launching Mindalcove, eChai has played a key role at every step. Grateful to be part of a community that truly believes in growing together."
Hardik Manwani - CTO, Mind Alcove
Hardik Manwani
CTO, Mind Alcove
"We found eChai to be a force multiplier throughout our startup journey. Through it, we connected with folks from DevX, Allevents, Plutomen, and more - many of whom became friends of IndiaBizForSale.com and even part of our clientele."
Bhavin S Bhagat - Co-founder of Indiabizforsale and IBGrid, TiE Ahmedabad President
Bhavin S Bhagat
Co-founder of Indiabizforsale and IBGrid, TiE Ahmedabad President

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.