By becoming the first industrial B2B commerce platform, in the manufacturing space, Moglix has reached an important milestone to become a unicorn. The company is said to be valued at $1 billion in its latest $120 million Series E funding round.
The latest investment was led by Falcon Edge Capital and Harvard Management Company (HMC). This round of funding also saw participation from its existing investors, Tiger Global, Sequoia Capital India and Venture Highway.
Founded in 2015, Moglix provides solutions to more than 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK and the UAE. Several manufacturing majors and PSUs procure indirect material through the Moglix platform. Moglix has a supply chain network of 16,000+ suppliers, 35+ warehouses and logistics infrastructure. Its marketplace, www.moglix.com is the largest e-commerce platform in the industrial goods category in India. Moglix also has an award-winning suite of software products for contract management and B2B Commerce. Global FMCG giant Unilever uses the platform for ~$30 billion of material spend annually in 70+countries. This latest round of funding takes the total funds raised by Moglix to $220 Million. In the industrial & MRO procurement space, Moglix is India’s largest and fastest growing B2B commerce platform. The Company is building an operating system for manufacturing that provides its customers a full stack service covering procurement, packaging, supply chain financing and highly integrated software.
