Magenta Mobility’s FY24 revenue rises three fold, losses widen by 17.1%

Quick Summary:

The EV logistics solutions provider reported a loss of Rs 90.17 crore in FY24 compared to Rs 39.66 crore in the previous year owing to rising expenses.

Founded in 2017 by Maxson Lewis and Darryl Dias, the company last raised $22 million in a Series A funding round from BP Venture and Morgan Stanley India Infrastructure-managed investment fund.

Magenta Mobility caters to clients such as Flipkart and hyper-local delivery platform Dunzo, among others.

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Article Details

Author / Journalist: Sai Keerthi

Category: StartupsEconomyBusiness

Markets: India

Topics: Policy Services Crore Compared Rise Magenta Year Fy24 Privacy Revenue Expenses

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 09:35:40 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: yourstory.com

Language: English

Article Length: 260 words

Reading Time: 2 minutes read

Sentences: 17 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © YourStory

News ID: 23459880

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About YourStory

Main Topics: StartupsEconomyBusiness

Official Website: yourstory.com

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News Last Updated: 8 hours ago

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