About Magnes
Magnes is a company based in Mumbai (India) founded in 2016 by Nikunj Shah and Sunit Shah.. Magnes operates in a competitive market with competitors including EMotorad, eBik, Hornback, VAAN and GHM, among others.
- Headquarter Mumbai, India
- Founders Nikunj Shah, Sunit Shah
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Sectors
Transportation, Automotive & Logistics
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
$272.71 K (USD)266as on Mar 31, 2024
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Net Profit
$-30.05 K (USD)9as on Mar 31, 2024
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EBITDA
$45.43 K (USD)636as on Mar 31, 2024
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Latest Funding Round
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Investors
FedEx
& 1 more
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Employee Count
Employee Count
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Funding Insights of Magnes
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2023 | Amount | Seed - Magnes | Valuation | Social Alpha |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Magnes
Magnes has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include FedEx and Social Alpha. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Sustainable startups are supported via innovation curation and venture funding.
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Founded Year | Domain | Location | |
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Provider of logistics company offering package tracking, rates, and tools to support shippers and small businesses
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Magnes
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Magnes
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magnes Comparisons
Competitors of Magnes
Magnes operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as EMotorad, eBik, Hornback, VAAN and GHM, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Electric bicycles and e-bikes are offered via an online platform.
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| domain | founded_year | HQ Location |
Electric bicycles are manufactured with features for pedal-assisted riding.
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| domain | founded_year | HQ Location |
Foldable electric bicycles are provided by Hornback platform.
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| domain | founded_year | HQ Location |
Electric bicycles with removable batteries are manufactured by VAAN.
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| domain | founded_year | HQ Location |
Electric bicycles are designed, manufactured, and sold by GHM.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Magnes
When was Magnes founded?
Magnes was founded in 2016 and raised its 1st funding round 7 years after it was founded.
Where is Magnes located?
Magnes is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Who is the current CEO of Magnes?
Sunit Shah is the current CEO of Magnes. They have also founded this company.
What is the annual revenue of Magnes?
Annual revenue of Magnes is $272.71K as on Mar 31, 2024.
What does Magnes do?
Magnes was founded in 2016 in Mumbai, India, where electric bicycles and related vehicles are developed and produced. Operations focus on electric delivery bikes, cargo bikes, karts, and similar models equipped with lithium-ion batteries. The company operates within the electric vehicle sector, serving urban mobility needs in India through its manufacturing base.
Who are the top competitors of Magnes?
Who are Magnes's investors?
Magnes has 2 investors. Key investors include FedEx, and Social Alpha.