New Delhi, April 16 -- B2B industrial solutions provider Magma, autonomous robotic solutions provider Peppermint, lab-grown diamond jewellery brand Jewelbox, EV charging products provider IPEC, and non-banking financial company Shrinithi Capital have raised early-stage funding from various investors, the companies said on Wednesday.

Magma

B2B industrial solutions provider Magma has raised $5 million (Rs 42.8 crore) in a Series A funding round led by Capria Ventures, with participation from existing investors General Catalyst, Accion Venture Lab, and WEH Ventures.

Avinya Ventures and Sanjiv Rangrass, partner at Capria Ventures, also joined the round as new investors, Magma said in a statement.

The Ahmedabad-based company will use the funds to expand its backward integration capabilities and invest in technology to improve procurement for customers.

Founded in 2022 by Neal Thakker, Magma helps factories scale through a vertically integrated ecosystem that includes raw material customization, green energy, biomaterials, waste management, and logistics.

Peppermint

Peppermint has raised Rs 34 crore ($4 million) in a Series A funding round with participation from JDSS, Enrission India Capital, IAN, Vinners, and several angel investors.

The company develops autonomous robotic solutions for commercial and industrial applications, including floor-cleaning robots, material handling systems, and docking stations.

Founder and CEO Runal Dahiwade said the funds will be used to enhance international product offerings and compliances, expand into the EU, Japan and APAC markets, improve its operating system to support both Peppermint robots and OEM partners, and build the infrastructure to meet growing demand.

Founded in 2019 at incubator SINE IIT Bombay, the company has raised a total of Rs 49 crore to date.

Jewelbox

Lab-grown diamond jewellery brand Jewelbox has secured $3.2 million in a pre-Series A funding round, led by V3 Ventures, with participation from Atrium Angels, Dexter Ventures, Infinyte Club, Samarthya Capital, and others.

Existing investor JIIF also participated in the round, which was advised by Dexter Capital Advisors.

The company plans to use the funds to expand its franchise and company-owned stores, strengthen its brand presence, and grow its team. Jewelbox currently operates in six cities: Delhi, Gurugram, Bengaluru, Chennai, Kolkata, and Guwahati.

Founded in 2022 by siblings Vidita Kochar Jain and Nipun Kochar, the startup offers lab-grown diamond jewellery for both everyday and occasion wear.

IPEC

IPEC , a joint venture between MEHER Group, Deki Electronics, and Sungho Electronics, has secured $3 million from Nikhil Kamath and Abhijeet Pai-led Gruhas.

"This investment from Gruhas... strengthens IPEC's mission to consolidate its leadership status in the EV charging sector and accelerate its growth in the broader power electronics domain," the company said in a statement.

IPEC claims to have delivered over one million EV charging products to OEMs in India and now plans to scale its manufacturing capacity to 50,000 units per month.

Founded in 2017, IPEC offers a range of EV charging products, including private, portable, and public chargers, as well as EV connectors and vehicle charging Inlets.

Shrinithi Capital

Chennai-based NBFC Shrinithi Capital Pvt Ltd, focused on commercial vehicle finance and the EV segment, has secured Rs 16 crore in funding from Navyug Global Ventures. The company also raised Rs 10 crore in the first quarter of FY26, it said in a statement.

Shrinithi Capital provides credit to rural entrepreneurs, commercial fleet operators, and small business owners in the used vehicle auto segment. The new capital will support geographic expansion, tech-driven lending models, and targeted financing for electric mobility.

It currently operates more than 50 branches across Tamil Nadu with an on-field staff of over 600.

Navyug Global Ventures is an investment platform founded by investor Nikhil Chandan.

Published by HT Digital Content Services with permission from VC Circle.