Companies

Moglix raises $250 million, at $2.6 billion valuation

BL Bengaluru Bureau | | Updated on: Jan 28, 2022
Rahul Garg, Founder and CEO, Moglix

Rahul Garg, Founder and CEO, Moglix

The B2B commerce company has raised a total of $470 m across multiple funding rounds

January 28

Moglix has raised $250 million in its Series F funding round from Tiger Global and Alpha Wave Global, with Hong Kong based Ward Ferry coming onboard as a new investor.

This round has valued the company at $2.6 billion. Early investors, who had invested in Moglix during the seed stage have seen an 80X return on their investment in the B2B commerce company. Moglix works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution.

Total funding $470 m

In May 2021, Moglix became the first B2B commerce unicorn in the manufacturing sector, raising $120 million. Overall, the company has raised a total of $470 million across multiple funding rounds.

Rahul Garg, Founder and CEO, Moglix, said “We are happy to have the continued support and faith of our investors, customers, suppliers and team. We are excited to welcome Ward Ferry onboard. We are focused on our mission to enable creation of a $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 was founded in 2015, by IIT Kanpur distinguished alumnus and ISB graduate Rahul Garg. Moglix provides solutions to more than 500,000 SMEs and 1000+ large manufacturers across India and the UAE. Moglix has a supply chain network of 16,000+ suppliers, 40+ warehouses and logistics infrastructure. Moglix recently has crossed $100 million disbursal rate on its supply chain financing platform Credlix.

Marquee global investors

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, Mr. Ratan Tata, Chairman Emeritus, Tata Sons, had invested in the start-up in 2016. Leaders from the start-up and manufacturing communities such as Kalyan Krishnamurthy, Vikrampati Singhania and Shailesh Rao have also been investors in Moglix.

Published on January 28, 2022
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