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Indian EV charging and mobility solutions startup raises $40m

Magenta aims to expand charging-related businesses

Magenta operates under three segments: EVET (EV fleets), ChargeGrid (charging stations) and chargers. (Source photos: screenshots from Magenta's website) 

NEW DELHI -- Indian homegrown electric vehicle charging and mobility solutions company Magenta has raised a total of $40 million in Series B funding through a combination of equity and debt.

It has closed $20 million in equity funding led by two global marquee investors, co-founder Maxson Lewis told DealStreetAsia in an interview.

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