Moglix in talks to raise $150-200 Mn at $2.5 Bn valuation

• BySaksham Daga     |    January 10, 2022

Moglix, a B2B marketplace for industrial products, is in talks with new and existing investors to raise $ 150 million. It more than doubles its valuation, according to three sources  of transactions. 

 Noida-based company claims $ to $ 1 billion in unicorn valuation, lasting $ 120 million in a Series E round led by Falcon Edge Capital and Harvard Management I procured it. 

 “Moglix plans more than $ 150 million rounds from new and existing donors such as Falcon Edge, Tiger Global and Sequoia,” said one source on  condition of anonymity. “The round is coming to an end.” 

 Moglix is ​​a B2B commerce platform in the areas of industry and MRO procurement, with full-stack services for procurement, packaging, supply chain financing, and integrated software. 

 “Falcon Edge could lead the round and Tiger Global could double Moglix’s stake. Several new investors are also in talks to take part in the new round, which will value Moglix in the $ 22.5 billion range. ” 

 requests to Moglix, Falcon Edge, Tiger Global, and Sequoia did not result in an immediate response. The story will be updated as soon as you reply. A successful 

 transaction means a significant leap in the company’s reputation over the last few years. It was worth $ 300 million in the $ 60 million round in July 2019. With a history of 

 6 years, the company claims to target both large and small manufacturing companies, with more than 150,000 customers and more than 250 companies and groups. According to the company’s information, the company has 3,000 production bases in India, Singapore, the United Kingdom and the United Arab Emirates. 

 Last year, the company also acquired Vendaxo, an e-commerce platform for buying and selling used machines. In 

 retail, Moglix competes with  three other unicorns, OfBusiness, Infra.Market and Zetwerk. Moglix was one of the 43 startups that became a unicorn in 2021. OfBusiness is currently valued at around $ 5 billion, but Zetwerk recently increased that round to $ 2.7 billion. Infra.Market is in talks to raise  over $ 4 billion in new rounds.

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