PHOTO
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.”
-Ends-
About Moglix
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/
For further information, please contact:
Anit Kurian
Redhill MEA
Anit.kurian@redhill.ae
© Press Release 2022
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
