Moglix Raises Funding $120M, Joins Unicorn Club
- ByStartupStory | May 17, 2021
Moglix raises funding of $120M, Moglix becomes the first industrial B2B commerce platform in the manufacturing space, to become a unicorn.
Moglix raises funding of $120M, in Series E round led by Falcon Edge Capital and Harvard Management Company (HMC). Existing investors including Tiger Global, Sequoia Capital India and Venture Highway also participated in this round.
Speaking about Moglix raises funding of $120M , Rahul Garg, Founder & 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.”
This latest round of Moglix raises funding takes the total funds raised by Moglix to $220 million.
“We have studied and tracked Moglix for years, driven by our global experience in investing in online MRO platforms. We are strong believers in Rahul, his first mover advantage, his full-stack solution for under-serviced customers and his ability to drive robust unit economics. Navroz D. Udwadia, co-founder of Falcon Edge Capital said, Commenting on Moglix raises funding.
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