Startup Feature – Magenta Power

Total employees: 29

Key operational areas (Products, Regions, Clients)

It’s key operational area is Mumbai specifically. However, it has marked presence in the major cities in India such as Mumbai, Pune, Bangalore, Baruch, Nashik, Hyderabad and Chandigarh. Under its aggressive expansion plan, the company is aiming to reach pan India in the New Year 2020.

Founding Members detail

Magenta Power Co-Founders are Maxson Lewis and Darryl Dias. Maxson is having approx. four years of experience in the automotive sector with global firms like Saint-Gobain and Bosch. Besides, he is also having fifteen years of experience in the electricity sector in India and overseas countries like Canada, Singapore, Australia, Hongkong, Indonesia, Thailand and Europe. In Maxson Lewis views “In hindsight, auto meets electricity and hence electric vehicles were destined to happen to me.”

Another Co-Founder Darryl Dias is an engineer with hands-on knowledge in Research and Development (R&D) and extensive experience in renewable space. He was born in India and brought up in Middle East (ME).

Turning Point for the firm

The turning point for the firm was when Magenta Power team signed HPCL as its marketing strategist partner. The company is having few more original equipment manufacturers (OEM’s) joining hands whose names will be disclosed later this year by them.

Plans in next 3 to 5 years

The company is inclined towards covering pan India level from its presence of current 53 locations. In Maxson Lewis words – “Magenta Power is a very structured company we kept 2017 to study, 2018 to understand the business, 2019 is to develop, 2020 is to grow and 2021 is to export as it will be going to the international market that’s how we have defined our growth strategy.”

Biggest Attraction in the sector

The single biggest attraction in the sector is the ability to define the industry and industry standards. Since, the industry is evolving and we are considered pioneers in this space.

Present State of Mind

We are satisfied with our team pace but what we feel that slow is the pace of the growth of the electric vehicle (EV) ecosystem.