Noida-based Start-up Moglix to Raise $150-200 Million with Valuation of $2.5 Billion
According to three persons familiar with the matter, Moglix, a B2B industrial products marketplace, is in discussion with new and existing investors to raise $150-200 million, more than doubling its worth.
The Noida-based star-tup had previously secured $120 million in a Series E round led by Falcon Edge Capital and Harvard Management Co., claiming a unicorn valuation of $1 billion.
On the condition of anonymity, one of the officials stated, “Moglix is eyeing a $150 million plus round from new and existing backers such as Falcon Edge, Tiger Global and Sequoia. The round is expected to close soon.”
Moglix is a B2B commerce platform for industrial and MRO procurement that offers a full-stack solution that includes procurement, integrated software, supply chain financing, and packaging.
Another official said, “Falcon Edge is likely to lead the round while Tiger Global will double down its stake in Moglix. A couple of new investors are also in talks to join the fresh round which would value Moglix in the range of $2-2.5 billion.”
If the purchase goes through, the company's value will have increased significantly in the last several years. During its $60 million round in July 2019, it was valued at $300 million.
The six-year-old organisation claims to have over 150,000 clients, as well as over 250 businesses and corporations, in the manufacturing industry. The corporation claims to have 3,000 production sites in India, Singapore, the United Kingdom, and the United Arab Emirates.
Vendaxo, an e-commerce site for buying and selling old machinery, was also bought last year.
Moglix competes with three additional unicorns in the commerce space: OfBusiness, Zetwerk, and Infra.Market. In 2021, Moglix was one of 43 firms that became unicorns. More than 60% of these unicorns, including Moglix's three competitors, had won two or more rounds during the year. Moglix, on the other hand, was not on the list.
The Noida-based star-tup had previously secured $120 million in a Series E round led by Falcon Edge Capital and Harvard Management Co., claiming a unicorn valuation of $1 billion.
On the condition of anonymity, one of the officials stated, “Moglix is eyeing a $150 million plus round from new and existing backers such as Falcon Edge, Tiger Global and Sequoia. The round is expected to close soon.”
Moglix is a B2B commerce platform for industrial and MRO procurement that offers a full-stack solution that includes procurement, integrated software, supply chain financing, and packaging.
Another official said, “Falcon Edge is likely to lead the round while Tiger Global will double down its stake in Moglix. A couple of new investors are also in talks to join the fresh round which would value Moglix in the range of $2-2.5 billion.”
If the purchase goes through, the company's value will have increased significantly in the last several years. During its $60 million round in July 2019, it was valued at $300 million.
The six-year-old organisation claims to have over 150,000 clients, as well as over 250 businesses and corporations, in the manufacturing industry. The corporation claims to have 3,000 production sites in India, Singapore, the United Kingdom, and the United Arab Emirates.
Vendaxo, an e-commerce site for buying and selling old machinery, was also bought last year.
Moglix competes with three additional unicorns in the commerce space: OfBusiness, Zetwerk, and Infra.Market. In 2021, Moglix was one of 43 firms that became unicorns. More than 60% of these unicorns, including Moglix's three competitors, had won two or more rounds during the year. Moglix, on the other hand, was not on the list.
