Moglix raises $120 mn; joins unicorn club
PTI
New Delhi |
Updated on
May 17, 2021
Existing investors Tiger Global, Sequoia Capital India, Venture Highway participated in the Series E funding
Moglix on Monday said it has raised $120 million (about ₹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. The Series E round also saw participation from existing investors Tiger Global, Sequoia Capital India and Venture Highway. “We started six years ago. 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,” Moglix Founder and CEO Rahul Garg said.
Ratan Tata-backed Moglix is the 13th unicorn from India this year
Sudhanshu SinghMay 17, 2021, 12:28 IST
Moglix
unicorn from India this year.
The B2B
eCommerce marketplace has raised $120 million in the new funding round.
The overall valuation of the firm rose to $1 billion after the latest series of funding.Indian industrial business-to-business marketplace Moglix has raised $120 million in a new financing round at a $1 billion valuation to become the 13th firm from India to attain unicorn status in the country this year.
The 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 this round. The six-year old startup has raised $220 million to date.
Ratan Tata-backed Moglix 13th unicorn in India this year
The six-year-old startup reached the $1 billion valuation mark after its latest series-E round of funding. The investments in the firm were led by Falcon Edge Capital and Harvard Management Company (HMC)
BusinessToday.In | May 17, 2021 | Updated 16:34 IST
The firm was valued between $250-300 million after its last round of funding in 2019
Indian industrial business-to-business (B2B) marketplace Moglix has managed to raise $120 million in its latest round of financial funding. With this, the company s total valuation has reached $1 billion making it the 13th Indian firm to attain unicorn status in 2021.
The six-year-old startup reached the $1 billion valuation mark after its latest series-E round of funding. The investments in the firm were led by Falcon Edge Capital and Harvard Management Company (HMC). Existing investors such as Tiger Global, Sequoia Capital India and Venture Highway were also participants in the series
Moglix, an industrial B2B commerce platform in manufacturing, said it has raised $120 million in Series E funding based on which it has become a unicorn. The latest investment was led by Falcon Edge C
Moglix on Monday raised $120 million in a fresh fundraise led by Falcon Edge Capital and Harvard Management Company, it said in a statement. Existing investors such as Tiger Global, Sequoia Capital India and Venture Highway, too, participated in the round.