Moglix, an industrial B2B commerce platform in manufacturing, said it has raised $120 million in Series E funding based on which it has become a unicorn. The latest investment was led by Falcon Edge Capital and Harvard Management Company (HMC). This round also saw participation from existing investors, Tiger Global, Sequoia Capital India and Venture Highway, it said.
The company is building an operating system for manufacturing sector that provides its customers a full range of service covering procurement, packaging, supply chain financing and integrated software.
“We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector,” said Rahul Garg, founder and CEO, Moglix.
“We had the trust of stalwarts like Ratan Tata, and a mission to enable the creation of a $1 trillion manufacturing economy in India. Today, as we enter the next stage of our evolution, we feel this financing milestone is a testimony to our journey of innovation and disruption.”
