Moglix becomes unicorn after USD 120 mln fundraise

Monday 17 May 2021 09:11 CET | News

Singapore-based Moglix achieves unicorn status with USD 120 million fundraise, taking the overall valuation of the company to USD 1 billion.

The series E funding round of Moglix was led by Falcon Edge Capital and Harvard Management Company. Existing investors Tiger Global, Sequoia Capital India, and Venture Highway also participated as part of this round.

With the current equity infusion, the total funds raised till date by Moglix stands at USD 220 million, taking the overall valuation of the company to USD 1 billion.

The B2B ecommerce platform for manufacturing goods provides manufacturers with industrial goods through its ecommerce platform, and is building an operating system for manufacturing that provides its customers a full stack service covering procurement, packaging, supply chain financing and highly integrated software.

At present, Moglix provides solutions to more than 500,000 small and medium enterprises and 3,000 manufacturing plants across India, Singapore, the UK, and the UAE.

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Keywords: funding, B2B payments, ecommerce, supply chain finance, e-procurement
Categories: Payments & Commerce | E-invoicing, SCF & E-procurement
Countries: Asia
This article is part of category

Payments & Commerce