B2B unicorn Moglix raises $250 mn in Series F

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B2B unicorn Moglix raises $250 mn in Series F

The B2B unicorn Moglix, which operates in the infrastructure and manufacturing sector, raised $250 million in a Series F round led by Alpha Wave Global and Tiger Global, with its valuation soaring 2.5 x in less than a year to $2.6 billion. The company has also on board Hong Kong-based Alpha Wave Global, with Hong Kong-based Ward Ferry coming on board as a new investor during the current round. Moglix was the first B 2 B Commerce unicorn in the manufacturing sector in May 2021, raising $120 million.

New York-based Tiger Global's first bet on India's infrastructure space came through Moglix through an earlier investment in 2019. Tiger Global has doubled down its investments in Moglix over the last three years, according to the start-up. Early investors who had invested in Moglix during the seed stage have seen an 80 X return on their investment in this B 2 B commerce firm.

We are happy to have the continued support and faith of our investors, customers, suppliers and team. We are excited to welcome Ward Ferry aboard. We are focused on our mission to create a $1 Trillion manufacturing ecosystem in India. We will invest in technology and supply chain capabilities to enable the growth of the manufacturing and infrastructure sector. Moglix will focus on growth as a result of supply chain financing, acquisition of the right partners and global expansion, according to Rahul Garg, Founder CEO, Moglix.

Moglix, founded in 2015 by IIT Kanpur Alumnus and ISB graduate Rahul Garg, provides solutions for more than 500,000 SMEs and 1000 large manufacturers across India and the UAE. Moglix has a supply chain network of more than 16,000 suppliers, 40 warehouses and logistics infrastructure.

It has close to 700,000 SKUs, its marketplace, www.moglix.com. com is the largest e-commerce platform in India in the industrial goods category. Moglix recently crossed $100 million in disbursal rate on its supply chain financing platform Credlix, the B 2 B firm said in an official statement. The company is backed by Tata Sons, Chairman Emeritus, Alpha Wave Global, Sequoia, Accel Partners, International Finance Corporation and Tiger Global. The investors in Moglix have been led by the start-up and manufacturing communities, such as Kalyan Krishnamurthy, Vikrampati Singhania and Shailesh Rao.