Moglix raises $250 mn at $2.6 bn valuation

Early investors, who had invested in Moglix during the seed stage, have seen an 80X return on their investment in this B2B commerce pioneer, the statement added.In May last year, Moglix had announced raising USD 120 million about Rs 878.8 crore in funding from Falcon Edge Capital, Harvard Management Company HMC and others, placing the industrial B2B e-commerce platform in the unicorn club.Moglix works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution.

Industrial B2B e-commerce platform Moglix on Friday said it has raised USD 250 million (about Rs 1,876.5 crore) led by Tiger Global and Alpha Wave Global with Hong Kong-based Ward Ferry coming onboard as a new investor.

The series F funding round valued the company at USD 2.6 billion, a statement said. In 2019, Moglix was the first B2B sector investment in India by Tiger Global which continued to double down and invest in the company over the last three years. Early investors, who had invested in Moglix during the seed stage, have seen an 80X return on their investment in this B2B commerce pioneer, the statement added.

In May last year, Moglix had announced raising USD 120 million (about Rs 878.8 crore) in funding from Falcon Edge Capital, Harvard Management Company (HMC) and others, placing the industrial B2B e-commerce platform in the unicorn club.

Moglix works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. "We are focused on our mission to enable creation of a USD 1 trillion manufacturing ecosystem in India. We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector. ''Moglix will increasingly focus on growth driven by supply chain financing, acquisition of the right partners and global expansion," Moglix founder and CEO Rahul Garg said.

Founded in 2015, Moglix provides solutions to more than 5 lakh SMEs and more than 1,000 large manufacturers across India and the UAE. It has a supply chain network of more than 16,000 suppliers, over 40 warehouses and logistics infrastructure. With close to more than 7 lakh SKUs (Stock Keeping Units), its marketplace is the largest e-commerce platform in the industrial goods category in India. Moglix recently crossed USD 100 million disbursal rate on its supply chain financing platform, Credlix.

Moglix is backed by marquee global investors such as Tiger Global, Alpha Wave Global, Sequoia, Accel Partners, International Finance Corporation, Harvard Management Company, and others. Industry stalwart Ratan Tata, Kalyan Krishnamurthy, Vikrampati Singhania and Shailesh Rao have also been investors in Moglix.

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