A Noida-based B2B industrial goods e-Commerce forum. On Monday (17th May 2021), Moglix announced that it raised USD 120 Million in the Series E round, which was led by Falcon Edge Capital and Harvard Management Company (HMC). The companies who participated in this round were Tiger Global, Venture Highway, and Sequoia Capital.
Moglix is the first B2B e-commerce in the manufacturing space in India to become a Unicorn.
Some of the lead investors of the company are well-known names like Vikrampati Singhania, MD, JK Fenner, Kalyan Krishnamurthy, CEO Flipkart and Shailesh Rao, ex-Google.
“We are glad that Falcon Edge Capital and Harvard Management Company (HMC) have partnered with us in this journey. Falcon Edge, with its deep roots in the Middle East and Europe and an understanding of public companies, will guide us through the next phase of our journey.” – Moglix.
About the Company –
Moglix was founded and established by Rahul Garg, an ISB and IIT kanpur alumnus in 2015. The main aim of the company is to transform the supply chain of the manufacturing sector digitally. More than 500,000 SMEs and 3000 manufacturing plants are provided solutions by the company across India, UK, Singapore and UAE.
The company’s distinguished customer ROI and proposition are visible in its outstanding revenue and customer retention value. It has more than 500,000 SKUs, and has a supply chain across 15000, more than 35 logistic structure and warehouse, which is making the forum bigger in India
Words from the investors
“We have studied and tracked Moglix for years, driven by our global experience in investing in online MRO platforms. We are strong believers in Rahul, his first-mover advantage, his full-stack solution for under-serviced customers and his ability to drive robust unit economics. – Navroz D. Udwadia, co-founder, Falcon Edge Capital.
Words from the CEO
“We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector. We had the trust of stalwarts like Ratan Tata and a mission to enable creating 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.” – Rahul Garg, Founder & CEO, Moglix.
“We are creating a full-stack operating system for manufacturing in India and globally. We are looking to add new solutions and products for the manufacturing ecosystem. We are also planning to scale our operations globally and in India during the year” – he added.
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, Moglix announced that it raised USD 120 Million in the Series E round, which was led by Falcon Edge Capital and Harvard Management Company (HMC).){kind=link}