[Startup Interview] Mangaldas Gupta, CEO, Magma Ash Tech, India
Magma Ash Tech is an Indian startup involved in the procurement, processing and export of Flyas, one of the residues produced during combustion of coal. Fly ash is used as a bonding agent mainly in cement plants, ready mix concrete units, manufacture of blocks, bricks and boards.
The startup’s CEO Mangaldas Gupta explains.
Tell us a bit about your company
We're an Procurement,Processing and Export house for Flyash.
We are a Classification unit in India
Who are the founders of Magma Ash Tech and what are their professional backgrounds?
The company was founded by Mangaldas Gupta and Pranitha M Gupta who have an extensive background in iron ore, end to end logistics and exports.
How is Magma Ash Tech financed?
The major financier of the company is Canara Bank.
What would you say are the dynamics shaping your industry?
Potential product available as waste converted and valued as a product of demand with global clients and an industry generating a Cementious product.
Why did you start Magma Ash Tech? What opportunities did you see?
We started the company in 2016 when we saw the waste available in abundant and the US market was our potential market of opportunities.
What problem or problems does Magma Ash Tech solve?
To us it has always been interesting and challenging in fulfilling demands of the markets.
What gives Magma Ash Tech the competitive edge?
Our expertise in classification and novel ideas of minimizing logistics cost
Who are your customers?
All Cement Industries, Cement Precast, Readymix Concrete, Bricks and Blocks, Roof Sheets and many other Chemical industries and extraction of Rare Earth Minerals.
What does Magma Ash Tech need in order to grow?
We want to come up with our own good storage facility in the ports and Transportation because a larger proportion of costing goes into this segment.
What is your growth strategy?
Having our own storage and transportation will make us grow by 200 per cent.
In which markets are you looking to establish your presence?
We would like to establish ourselves globally.
What are your plans for the coming 12 months?
We're working on 24/7 to penetrate all US and African markets.
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