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Infotech > E-business
17 May 2021
Business-to-business marketplace Moglix has raised $120 million in a new financing round at a $1 billion valuation, becoming the 13th Indian start-up to attain unicorn status this year.
Moglix’s overall valuation rose to $1 billion after its latest series-E funding round, led by Falcon Edge Capital and Harvard Management Company (HMC). Existing investors Tiger Global, Sequoia Capital India and Venture Highway also participated in the latest round.
This brings Moglix’s total fund raising to date to $220 million.
Moglix was founded by IIT Kanpur graduate Rahul Garg, former Head of Advertising Exchange at Google Asia, six years ago. Moglix is engaged in procurement and supply of industrial products mainly used in manufacture, repair and operating, such as fasteners, electrical, hardware, pneumatics, and safety items among others.