Moglix, a B2B industrial goods marketplace, has raised $250 million in a Series F funding round led by existing investors Tiger Global and Alpha Wave Global, with Hong Kong-based Ward Ferry participating.
Moglix claims to have raised a new round at a valuation of $2.6 billion, with early investors who had invested in the company’s seed round seeing an 80X return on their investment in this round.
Sequoia Capital, Accel Partners, International Finance Corporation, Harvard Management Company, and industry legend Ratan Tata are among the investors in the Noida startup, which has raised around $470 million to date.
Rahul Garg founded Moglix in 2015 to help manufacturing and infrastructure companies transform their end-to-end supply chains, from procurement to distribution. Over 500,000 SMEs and 1000 large manufacturers in India and the UAE benefit from the company’s services.
According to Moglix, it has a supply chain network of over 16,000 suppliers, 40 warehouses, and logistics infrastructure.
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