Dubai, UAE : Moglix has raised $250 Million in its latest Series F funding round, at a valuation of $2.6 Billion. This investment was led by Tiger Global and Abu Dhabi-backed Alpha Wave Global with Hong Kong based Ward Ferry coming onboard as a new investor. Early investors, who had invested in Moglix during the seed stage have seen an 80X return on their investment in this B2B commerce pioneer.
One of India’s largest and fastest growing B2B Commerce companies, 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 works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. In May 2021, Moglix became the first B2B Commerce unicorn in the manufacturing sector, raising $120 Million.
Rahul Garg, Founder & 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. As the UAE is set to double the contribution of both light and heavy industrial manufacturing sectors under the 'Operation Dh300 billion', we will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector in the region. 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. With close to 700,000+ SKUs, its marketplace, www.moglix.com is the largest e-commerce platform in the industrial goods category in India. Moglix recently crossed $100 Million disbursal rate on its supply chain financing platform Credlix.
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.
See more at: https://business.moglix.ae/
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