Moglix Becomes Latest Startup To Join Unicorn Club After $120 Million Fund Raise

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Moglix, a industrial business-to-business startup for manufacturing, has brought $120 million up in a subsidizing round that valued the firm at $1 billion. Moglix is the fourteenth Indian organization this year to arrive at unicorn status and the first in mechanical B2B business. 

The Series E financing round was driven by Falcon Edge Capital and Harvard Management Company (HMC). Existing financial backers, Tiger Global, Sequoia Capital India and Venture Highway took an interest also. 

Moglix is India’s biggest and quickest developing B2B business stage in the mechanical and MRO (support, fix and activities) acquirement space with a reasonable first-mover advantage. Moglix, which was established in 2015 by IIT Kanpur and ISB former student Rahul Garg, gives answers for in excess of 500,000 SMEs and 3,000 assembling plants across India, Singapore, the UK and the UAE.  

Bird of prey Edge, which works in West Asia and Europe, said it will control the firm through the following period of its excursion. 

The most recent financing round takes the complete assets raised by Moglix to $220 Million. Pioneers from fire up and producing networks like Kalyan Krishnamurthy, CEO of Flipkart, and Vikrampati Singhania, overseeing chief at JK Fenner, have put resources into Moglix.Moglix, a industrial business-to-business startup for manufacturing, has brought $120 million up in a subsidizing round that esteemed the firm at $1 billion. Moglix is the fourteenth Indian organization this year to arrive at unicorn status and the first in mechanical B2B business. 

The Series E financing round was driven by Falcon Edge Capital and Harvard Management Company (HMC). Existing financial backers, Tiger Global, Sequoia Capital India and Venture Highway took an interest also.

Moglix is India’s biggest and quickest developing B2B business stage in the mechanical and MRO (support, fix and activities) acquirement space with a reasonable first-mover advantage. Moglix, which was established in 2015 by IIT Kanpur and ISB former student Rahul Garg, gives answers for in excess of 500,000 SMEs and 3,000 assembling plants across India, Singapore, the UK and the UAE. 

The most recent financing round takes the complete assets raised by Moglix to $220 Million. Pioneers from fire up and producing networks like Kalyan Krishnamurthy, CEO of Flipkart, and Vikrampati Singhania, overseeing chief at JK Fenner, have put resources into Moglix.



Categories: Startups, Unicorns, Venture Capital

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