Total amount raised
$472.2 Millions
Latest funding date
1/1/2022
Location
Moglix has successfully raised significant funding over multiple rounds, with its latest being a Series F. The company operates an extensive online marketplace for business supplies and industrial equipment.
Keep reading to explore the intricacies of Moglix's fundraising journey and the investors backing this innovative platform.
What Is Moglix?
Moglix, founded in January 2015 by Rahul Garg, is an e-commerce platform specializing in business supplies and industrial equipment. The company is headquartered in Singapore and operates extensively in India.
With a workforce of 1001-5000 employees, Moglix offers a wide range of products, including industrial tools, electronic appliances, and office supplies. The platform caters to both B2B and B2C markets, providing digital procurement and supply chain solutions.
From safety equipment to IT & electronics, Moglix's extensive catalog ensures that businesses can find everything they need in one place. The company's commitment to a seamless shopping experience has made it a leader in the industrial e-commerce space.
How Much Funding Has Moglix Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2016
- Lead Investors: Ratan Tata
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale operations.
- Series A
- Amount Raised: ₹280M
- Date: October 2016
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market reach.
- Series B
- Amount Raised: $12M
- Date: July 2017
- Lead Investors: International Finance Corporation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen supply chain capabilities and increase product offerings.
- Series C
- Amount Raised: $26M
- Date: March 2019
- Lead Investors: Accel, Bessemer Venture Partners, International Finance Corporation, Kalyan Krishnamurthy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new markets and enhance digital procurement solutions.
- Series D
- Amount Raised: $60M
- Date: July 2019
- Lead Investors: Composite Capital Management, Peak XV Partners, Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve supply chain infrastructure.
- Series E
- Amount Raised: $120M
- Date: May 2021
- Lead Investors: Alpha Wave Global, Harvard Management Company
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand global footprint.
- Series F
- Amount Raised: $250M
- Date: January 2022
- Lead Investors: Alpha Wave Global, Tiger Global Management
- Valuation at Round: $2.6 billion
- Motivation Behind the Round: To drive growth through supply chain financing and global expansion.
Total amount raised: $468M. Current valuation: $2.6 billion.
Key Investors
- Alpha Wave Global
- Details: Alpha Wave Global is an alternative asset manager backed by Abu Dhabi. They co-led Moglix's Series F funding round.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Swiggy, PolicyBazaar, Zomato.
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm that first invested in Moglix in 2019. They have continued to support the company through multiple funding rounds.
- Investment Focus Areas: Technology, internet, software sectors.
- Notable Investments: Flipkart, Ola, Byju's.
- Ward Ferry
- Details: Ward Ferry is a Hong Kong-based investment firm that joined Moglix's Series F funding round as a new investor. They focus on both public and private equity investments.
- Investment Focus Areas: Public and private equity investments, primarily in Asia.
- Notable Investments: SEA Group, Meituan, Pinduoduo.
- Accel
- Details: Accel is a global venture capital firm that was an early investor in Moglix. They have a strong track record of investing in early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Facebook, Dropbox, Slack.
- International Finance Corporation (IFC)
- Details: IFC is a member of the World Bank Group and focuses on private sector investments in developing countries. They have been an early investor in Moglix.
- Investment Focus Areas: Private sector investments in developing countries.
- Notable Investments: Flipkart, Byju's, Swiggy.
What's Next for Moglix?
Moglix is poised to capitalize on several significant opportunities, including supply chain financing and global expansion, particularly in the UAE. With a robust supply chain network and a client base that spans over 500,000 SMEs and 1,000 large manufacturers, the company is well-positioned to leverage its recent $250 million Series F funding to enhance its technology and supply chain capabilities.
Future fundraising opportunities appear promising, given the continued support from prominent investors like Tiger Global and Alpha Wave Global. As Moglix scales its operations and penetrates new markets, additional funding rounds could be on the horizon to support these growth initiatives.
However, challenges such as navigating regulatory landscapes in new markets and potential supply chain disruptions could pose hurdles. Successfully integrating new partners and maintaining service quality across diverse industries will be crucial for sustained growth.
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