Morgan Stanley, BP Ventures back Indian e-mobility startup Magenta

Indian electric mobility startup Magenta Mobility has closed a $22 million Series A1 round, backed by $11 million each from Morgan Stanley India Infrastructure and BP Ventures. Magenta will use the all-equity investment to boost its existing logistics and last-mile delivery fleet operations.
The Navi Mumbai-headquartered startup has a fleet of 800 three-wheeled electric cargo trucks with which it delivers goods in seven cities across the country — specifically Bengaluru, Delhi, Mumbai, Mysuru, Hyderabad, Gurugram and Noida. Magenta aims to use its latest capital infusion to expand into e

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