Ratan Tata-backed Moglix becomes new unicorn from India
Ratan Tata-backed Moglix in May announced ...
Ratan Tata-backed Moglix in May announced that it is the first industrial B2B commerce platform in the manufacturing space in India to become a new unicorn with raising $120 million in fresh funding which took its valuation to $1 billion.
The Series E funding round was led by Falcon Edge Capital and Harvard Management Company (HMC), and also saw participation from existing investors Tiger Global, Sequoia Capital India and Venture Highway. “We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector. We had the trust of stalwarts like Ratan Tata, and a mission to enable the creation of a $1 trillion manufacturing economy in India,” said Rahul Garg, Founder & CEO, Moglix.