Moglix, the B2B industrial goods marketplace, has secured $120 million in a Series E round that has valued the startup at over $1 billion. The investment has been led by Falcon Edge Capital and Harvard Management Company (HMC). The round has also seen participation from its existing investors like Tiger Global, Sequoia Capital India, and Venture Highway.
With this funding, Moglix becomes the 13th startup from India to join the unicorn club in 2021. Moglix joins another B2B marketplace for construction materials Infra. Market to be one of the rare B2B e-commerce platforms in the manufacturing space to reach the elite unicorn group.
This latest funding round takes the total funds raised by Moglix to $220 million.
Rahul Garg, Founder, and CEO, Moglix, said, “We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector. We had the trust of stalwarts like Ratan Tata, and a mission to enable the creation of a $1 trillion manufacturing economy in India. Today, as we enter the next stage of our evolution, we feel this financing milestone is a testimony to our journey of innovation and disruption.”
Founded by Rahul Garg in 2015, Moglix is building an operating system that provides its customers full-stack service covering procurement, packaging, supply chain financing, and integrated software. Moglix offers its solutions to more than five lakh SMEs and 3,000 manufacturing plants across India, Singapore, the UK, and the UAE. Moglix has a supply chain network of over 16,000 suppliers, 35+ warehouses, and logistics infrastructure.
Copyright © 2009 - 2024 Franchise India Holdings Ltd