Magenta Mobility raises $22 mn from bp, Morgan Stanley India Infra

Magenta Mobility has raised $22 million in a Series A1 funding round. The electric mobility startup raised $11 million each from Morgan Stanley India Infrastructure and UK-headquartered bp ventures. bp's JV with Reliance, Jio-bp, will be the exclusive EV charging partner for Magenta's fleet. The startup has over 750 electric vehicles operating in the last-mile delivery space across seven cities.