New Delhi, May 17 (Ians) Ratan Tata-backed Moglix on Monday announced that it is the first industrial B2B commerce platform in the manufacturing space in India to become a new unicorn with raising $120 million in fresh funding which took its valuation to $1 billion.
The Series E funding round was led by Falcon Edge Capital and Harvard Management Company (Hmc), and also saw participation from existing investors Tiger Global, Sequoia Capital India and Venture Highway.
"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 the creation of a $1 trillion manufacturing economy in India," said Rahul Garg, Founder & CEO, Moglix.
Ratan Tata, the Chairman Emeritus of Tata Sons, had invested an undisclosed amount in the B2B marketplace in 2016.
The latest round of funding takes the total funds raised by Moglix to $220 million.
The Series E funding round was led by Falcon Edge Capital and Harvard Management Company (Hmc), and also saw participation from existing investors Tiger Global, Sequoia Capital India and Venture Highway.
"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 the creation of a $1 trillion manufacturing economy in India," said Rahul Garg, Founder & CEO, Moglix.
Ratan Tata, the Chairman Emeritus of Tata Sons, had invested an undisclosed amount in the B2B marketplace in 2016.
The latest round of funding takes the total funds raised by Moglix to $220 million.
- 5/19/2021
- by Glamsham Bureau
- GlamSham
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