About Magtec
Magtec is a company based in Rotherham (United Kingdom) founded in 1992.. The company has 159 employees as of January 31, 2022. Magtec offers products and services including MAGTEC Assist, MAGPAC Battery, MEV75 7.5T, and MEV190 19T. Magtec operates in a competitive market with competitors including XL Fleet Electrification, Effenco and Hybritek, among others.
- Headquarter Rotherham, United Kingdom
- Employees 159 as on 31 Jan, 2022
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Magnetic Systems Technology Limited
- Date of Incorporation 09 Nov, 1992
- Jurisdiction ROTHERHAM, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$7.4 M (USD), Grant
Jun 29, 2020
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Investors
European Union
& 1 more
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Employee Count
159
as on Jan 31, 2022
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Products & Services of Magtec
Magtec offers a comprehensive portfolio of products and services, including MAGTEC Assist, MAGPAC Battery, MEV75 7.5T, and MEV190 19T. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides assistance for electric vehicle operations in various applications.
Offers power solutions for electric vehicles in commercial and defence use.
Enables electric drive for heavy goods vehicles with enhanced performance.
Supports repowering of large transport vehicles for efficient operations.
Funding Insights of Magtec
- Total Funding Total Funding
- Total Rounds 3
- Last Round Grant — $7.4M
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First Round
First Round
(01 Nov 2014)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2020 | Amount | Grant - Magtec | Valuation |
investors |
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| Mar, 2016 | Amount | Grant - Magtec | Valuation |
investors |
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| Nov, 2014 | Amount | Grant - Magtec | Valuation |
investors |
| 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 Magtec
Magtec has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include European Union and Advanced Propulsion Centre UK. 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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Venture capital is directed toward technology sectors by this firm.
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Founded Year | Domain | Location | |
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Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability
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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 Magtec
| 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 - Magtec
| 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 |
Magtec Comparisons
Competitors of Magtec
Magtec 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 XL Fleet Electrification, Effenco and Hybritek, 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 |
Cloud-enabled fleet electrification systems are provided for commercial vehicles.
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| domain | founded_year | HQ Location |
Electric hybrid systems are developed for heavy-duty trucks.
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| domain | founded_year | HQ Location |
Develops innovative hybrid electric technologies for commercial vehicles.
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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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Latest news on Magtec
Frequently Asked Questions about Magtec
When was Magtec founded?
Magtec was founded in 1992 and raised its 1st funding round 22 years after it was founded.
Where is Magtec located?
Magtec is headquartered in Rotherham, United Kingdom. It is registered at Rotherham, England, United Kingdom.
How many employees does Magtec have?
As of Jan 31, 2022, the latest employee count at Magtec is 159.
What does Magtec do?
Magtec was founded in 1992 and is based in Rotherham, United Kingdom. Electric vehicle drive systems and components are developed and manufactured for commercial applications. Operations are centered on the automotive sector, with a focus on electrification technologies. Services include supply of integrated powertrain solutions to support vehicle manufacturers in transitioning to electric mobility. The companys domain, magtec.co.uk, facilitates global outreach in this field.
Who are the top competitors of Magtec?
Magtec's top competitors include XL Fleet Electrification, Effenco and Hybritek.
What products or services does Magtec offer?
Magtec offers MAGTEC Assist, MAGPAC Battery, MEV75 7.5T, and MEV190 19T.
Who are Magtec's investors?
Magtec has 2 investors. Key investors include European Union, and Advanced Propulsion Centre UK.