Moglix raises $250Mn at $2.6Bn valuation

Industrial goods marketplace Moglix has raised $250 million as part of its Series F funding round led by existing investors Tiger Global and Alpha Wave Global and Hong Kong-based new investor Ward Ferry, doubling its valuation in less than a year at $2.6 billion.

Moglix, operated in India by MogliLabs Pvt. Ltd, also delivered 80 times return on investment to its seed investors as part of the transaction.

Founder and CEO Rahul Garg, said, “We are focused on our mission to enable creation of a $1-trillion manufacturing ecosystem in India. We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector. Moglix will increasingly focus on growth driven by supply chain financing, acquisition of the right partners and global expansion.”

With close to 700,000 SKUs, its marketplace is the largest e-commerce platform in the industrial goods category in India. Moglix recently crossed $100-million disbursal rate on its supply chain financing platform Credlix.

Moglix has a supply chain network of more than 16,000 suppliers, over 40 warehouses and logistics infrastructure, catering to more than 500,000 small- and medium-sized enterprises (SMEs) and over 1000 large manufacturers across India and the UAE.