The funding helps Moglix achieve unicorn status at a valuation of $1B. Here are the top-line bullets you need to know.
Moglix, a B2B e-commerce platform, has raised $120M in a Series E that drew participation from Falcon Edge Capital, Harvard Management Company, and Tiger Global Management, among others.
How’s the company performing?
- India-based Moglix is a B2B e-commerce platform for industrial supplies like maintenance, repair, cleaning & housekeeping, office supplies, electricals, lighting, and others.
- The company caters to over 500,000 SMEs and has 3,000 manufacturing plants across India, UK, Singapore, and UAE.
- Moglix’s customers include Hero MotoCorp, Tata Steel, Unilever, Vedanta, and Air India, among others.
- The company has a supply-chain network of 16,000 suppliers across 35 warehouses and over 500,000 SKUs on its platform.
Why does the market matter?
- The business-to-business e-commerce market is projected to grow at a CAGR of 17.5% and reach a value of 20.91T by 2027, according to Grand View Research.
- Reduced infrastructure cost, technological advancements, disruptions due to Covid-19, and increased digitization have all contributed to the industry’s growth.