As the Indian commercial enterprise business-to-business marketplace aggressively scales its messaging in many regions of the world, Moglix's valuation has more than doubled to almost $2.5 billion from $1 billion just eight months ago.

Moglix announced in a regulatory filing with Singapore's Accounting and Corporate Regulatory Authority that Alpha Wave Global (previously known as Falcon Edge Capital), which led the seven-year-old startup's last funding, had returned alongside Tiger Global to co-lead the Series F financing round.

Moglix's valuation has risen to almost $2.5 billion, according to DealStreet Asia, which first reported on the round.

Ward Ferry, situated in Hong Kong, is also a part of the $249 million round, which is more than Moglix has raised in all of its prior investment rounds combined.

Moglix is a B2B marketplace and procurement platform for manufacturing goods that range from centrifugal pumps to fans to routers and pulse oximeters, and was founded by IIT Kanpur and ISB graduate Rahul Garg.

Hundreds of thousands of small, medium-sized businesses and enterprises are said to be served by the startup.

It has approximately 3,000 commercial enterprise plants in India, Singapore, the United Kingdom, and the United Arab Emirates, and its customers include manufacturing giants like Hero MotoCorp, Vedanta, Tata Steel, Unilever, Air India, and NTPC.

Sequoia Capital India is a sponsor of the startup, which manages a supply chain network of 16,000 vendors, 35 warehouses, and logistical infrastructure.
The startup claims to be India's largest e-commerce site for industrial goods, with over 500,000 SKUs on its platform.