Morgan Stanley and BP Ventures invest in Indian e-mobility startup Magenta
- Indian electric mobility startup Magenta Mobility has closed a $22 million Series A1 round.
- The investment was split between Morgan Stanley India Infrastructure and BP Ventures, with each investing $11 million.
- Magenta will use the all-equity investment to expand its existing logistics and last-mile delivery fleet operations.
- The Navi Mumbai-headquartered startup currently has a fleet of 800 three-wheeled electric cargo vehicles.
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