Magnes

Mumbai, India Founded: 2016 • Age: 10 yrs
Electric bicycles and vehicles are manufactured in Mumbai, India.
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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
  • Sectors
    Transportation, Automotive & Logistics
  • Phone
    *********
  • Website
    *********
  • Social
    *********
Operational Areas
Transportation, Automotive & Logistics → Automotive Technology & Mobility Solutions
Key Metrics
  • Annual Revenue
    $272.71 K (USD)
    266
    as on Mar 31, 2024
  • Net Profit
    $-30.05 K (USD)
    9
    as on Mar 31, 2024
  • EBITDA
    $45.43 K (USD)
    636
    as on Mar 31, 2024
  • Latest Funding Round
  • Investors
    FedEx

    & 1 more

  • Employee Count
    Employee Count
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Funding Insights of Magnes

  • Total Funding
  • Total Rounds 1
  • Last 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

Feb, 2021 Amount Post-IPO - Grab Valuation

investors

Jan, 2021 Amount Post-IPO - Grab Valuation

investors

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.

All
Venture Fund
Institutional
Investor Description Founded Year Domain Location
Sustainable startups are supported via innovation curation and venture funding.
Founded Year Domain Location
Provider of logistics company offering package tracking, rates, and tools to support shippers and small businesses
Founded Year Domain Location
Investor Description Founded Year Domain Location
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
Founded Year Domain Location
Startup ecosystems are ignited through strategic investments by Signite Partners.
Founded Year Domain Location
Venture capital is directed toward companies in multiple sectors.
Founded Year Domain Location
Venture capital is invested in cybersecurity, fintech, and AI startups.
Founded Year Domain Location

Investments & Acquisitions by Magnes

Investments
Company Name Description Domain Location Founded Year Amount
Bionic investment advisor platform
2016
Fine Asian gourmet food is offered by an internet-first restaurant.
2016
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
2014
Fine Asian gourmet food is offered by an internet-first restaurant.
2016

Financial Statements - Magnes

Tata Steel revenue growth over time
Tata Steel profit and loss trends over time
Date Amount Transaction Name Valuation Lead Investors Investors
Jul, 2021 Amount Post-IPO - Grab Valuation

investors

Feb, 2021 Amount Post-IPO - Grab Valuation

investors

Jan, 2021 Amount Post-IPO - Grab Valuation

investors

Feb, 2021 Amount Post-IPO - Grab Valuation

investors

Magnes Comparisons

Employees
+
Add Comparison
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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.
domain founded_year HQ Location
Electric bicycles are manufactured with features for pedal-assisted riding.
domain founded_year HQ Location
Foldable electric bicycles are provided by Hornback platform.
domain founded_year HQ Location
Electric bicycles with removable batteries are manufactured by VAAN.
domain founded_year HQ Location
Electric bicycles are designed, manufactured, and sold by GHM.
Company Name Domain Founded year HQ Location Description
domain founded_year HQ Location
Multiple services are booked via an app-based platform.
domain founded_year HQ Location
On-demand services are booked through an app-based platform.
domain founded_year HQ Location
App based platform offering on demand delivery and ride-hailing services
domain founded_year HQ Location
Operates an on-demand hyperlocal delivery app for food and groceries.

Latest news on Magnes

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?

Magnes's top competitors include EMotorad, eBik and Hornback.

Who are Magnes's investors?

Magnes has 2 investors. Key investors include FedEx, and Social Alpha.

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