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Tata-backed Moglix turns unicorn via USD120 mn fund raise
Moglix has raised $120 million (about Rs 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.
By
migrator
migrator
New Delhi
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.
Falcon Edge, with its deep roots in the Middle East and Europe and an understanding of public companies, will guide Moglix through the next phase of its journey, he added.
Tiger Global, which participated in the series D round in 2019, has also invested in the latest round.
Ratan Tata invested in Moglix in 2016. It has also got funding from other industry leaders like Kalyan Krishnamurthy (Flipkart CEO) and Shailesh Rao (ex Google).
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