Moglix Valuation, Funding & Investors

Moglix is valued at $2.5B as of January 2022.

Last Moglix valuation

$2.5B

Series F · Jan 2022

Last Moglix funding round

$250M

Series F · Jan 2022

Cumulative funding Moglix raised

$472M

across 6 funding rounds

Key investors in Moglix

  • Jungle Ventures
  • Accel
  • Tiger Global
  • International Finance Corporation
  • Peak XV Partners
  • Alpha Wave Global

Moglix Overview

About Moglix

Moglix is a Noida-headquartered e-commerce marketplace for industrial products serving manufacturing, construction, and logistics sectors across India and Southeast Asia. It stocks over categories including MRO supplies, safety gear, power tools, electrical equipment, cleaning products, and office essentials from brands like Bosch, 3M, and Honeywell. The platform facilitates bulk procurement with same-day delivery in major cities.


Founded

2015

HQ

SingaporeSingapore

Website

moglix.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$2.5B (Jan 2022)

Moglix Valuation

Moglix is currently valued at $2.5B, based on its Series F in January 2022.

The $250M round was led by Alpha Wave Global and Tiger Global, with participation from Ward Ferry Management.

Moglix's valuation has grown 8.3x from $300M at its Series D in July 2019 to $2.5B in January 2022, across 3 priced rounds.

Moglix valuation by funding round

Moglix valuation by funding round
DateStageValuation
Jan 2022Series F$2.5B
May 2021Series E$1B
Jul 2019Series D$300M

Moglix Funding History

Moglix has raised a total of $472M across 6 funding rounds.

Moglix's first fundraising round was a $4M Series A in October 2016. The most recent completed round was a $250M Series F in January 2022.

Moglix funding rounds

Moglix funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2022Series FAlpha Wave Global (lead); Tiger Global (lead); Ward Ferry Management$250M$2.5BMoglix is a full-stack B2B e-commerce platform focused on industrial goods, MRO (maintenance, repair, operations) supplies, and packaging materials. The company provides enterprises with integrated solutions including procurement, fulfillment, logistics, technology (SaaS), supply chain finance (Credlix), and global sourcing capabilities (Zoglix). Founded in 2015 and headquartered in Noida, India, Moglix has grown to become one of Asia's largest B2B commerce companies and achieved unicorn status (valuation over $1 billion). In its Series F funding round on January 27, 2022, Moglix raised $250 million from Alpha Wave Global, Tiger Global Management, and Ward Ferry Management at a post-money valuation of $2.5 billion. The company's valuation had grown approximately 10x from $220 million in June 2019 to $2.5 billion by January 2022. For FY24 (ending March 2025), Moglix reported operating revenue of $950 million (₹7,905 crore), a significant increase from $591 million in FY25, demonstrating strong growth trajectory. The company expanded through strategic acquisitions including ADI India distribution in October 2022 and Khatema Fibres sustainable packaging in November 2024. Moglix operates primarily in India with a presence in the Middle East (UAE) and serves cross-border sourcing to the US and Mexico through its Zoglix arm.
May 2021Series EAlpha Wave Global (lead); Harvard Management Company (lead); Venture Highway; Tiger Global; Peak XV Partners$120M$1BMoglix is an industrial B2B ecommerce marketplace in India, founded in 2015 by Rahul Garg, offering procurement and supply of MRO supplies, industrial goods, safety tools, hardware, and office supplies through a platform with over 500,000 SKUs, 16,000 suppliers, 35+ warehouses, and logistics infrastructure serving 500,000+ SMBs and enterprises including Hero MotoCorp, Vedanta, Tata Steel, Unilever, Air India, and NTPC. On May 17, 2021, Moglix raised $120 million in its Series E funding round led by Falcon Edge Capital (Alpha Wave Global) and Harvard Management Company, with participation from existing investors Tiger Global, Sequoia Capital India (now Peak XV Partners), and Venture Highway, achieving a post-money valuation of $1 billion and unicorn status as the 13th Indian startup that year; this brought total funding to about $220 million at the time. The round highlighted Moglix's strong customer retention and ROI, positioning it for scaling in India's growing B2B ecommerce sector for niche industrial categories, competing with players like Zetwerk and Infra.Market.
Jul 2019Series DComposite Capital Management (lead); Peak XV Partners (lead); Tiger Global (lead); Ratan Tata; Neeraj Arora; International Finance Corporation; Jungle Ventures; Accel; InnoVen Capital$60M$300MMoglix is a Noida-based B2B ecommerce marketplace for industrial goods, providing procurement, packaging, supply chain financing, and integrated software services to over 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK, and UAE, with a network of 16,000 suppliers and 35 warehouses. In July 2019, it closed a $60 million Series D funding round led by Tiger Global, with participation from Sequoia India (now Peak XV Partners) and Composite Capital Management, alongside existing investors Accel Partners, Jungle Ventures, IFC, Venture Highway, and Ratan Tata. The funds were allocated to technology innovation, analytics, logistics infrastructure, and launching the Moglix Innovation Hub (MIH) with $5 million for advancements in B2B commerce, SaaS, fintech, and logistics via entrepreneurs in residence. This followed a $23-26 million Series C in December 2018/March 2019 involving Accel, Bessemer, IFC, and Flipkart CEO Kalyan Krishnamurthy.
Mar 2019Series CAccel (lead); Bessemer Venture Partners (lead); International Finance Corporation (lead); Kalyan Krishnamurthy (lead); Jungle Ventures$26M-Moglix is an Indian B2B commerce platform founded in 2015 by Rahul Garg, providing procurement solutions for manufacturing and infrastructure sectors, serving SMEs and large enterprises with a supply chain network of thousands of suppliers and warehouses across India and internationally. The specified Series C round in March 2019 raised $26 million led by Accel, Bessemer Venture Partners, International Finance Corporation, and Kalyan Krishnamurthy to expand into new markets and enhance digital procurement solutions. A subsequent Series D round in July 2019 raised $60 million led by Composite Capital Management, Peak XV Partners (formerly Sequoia Capital India), and Tiger Global Management to scale operations and improve supply chain infrastructure. Moglix continued its growth trajectory, achieving unicorn status in May 2021 with a $120 million Series E round led by Falcon Edge Capital (Alpha Wave Global) and Harvard Management Company, reaching a $1 billion valuation and total funding of $220 million at that point. Existing investors including Tiger Global participated. Later, in January 2022, a $250 million Series F round co-led by Alpha Wave Global and Tiger Global valued the company at $2.6 billion, providing an 80x return to seed investors and bringing total funding to around $470 million. New investor Ward Ferry joined, with funds aimed at supply chain financing, acquisitions, and global expansion. The platform serves over 500,000 SMEs and thousands of manufacturing plants, offering nearly 500,000 SKUs. Investors across rounds include early backers like Accel Partners, Jungle Ventures, Venture Highway, and individuals such as Kalyan Krishnamurthy, alongside global funds like IFC, Tiger Global, Sequoia, and Harvard.
Jul 2017Series BInternational Finance Corporation (lead); Rocketship.vc; Venture Highway; Shailesh Rao; Jungle Ventures$12M--
Oct 2016Series AAccel (lead); SeedPlus; Jungle Ventures$4M-Moglix is a B2B e-commerce marketplace specializing in procurement of industrial products, founded in August 2015 by Rahul Garg and based in Noida. The platform connects SME buyers and large manufacturing enterprises with manufacturers and distributors across India, China, Taiwan, and other Asian countries, offering product discovery, price negotiation, logistics, and payment solutions. In October 2016, Moglix raised Rs 28 crore (approximately $4.2 million USD) in a Series A funding round led by Accel Partners, with participation from Jungle Ventures and SeedPlus. The company had previously received angel funding from industrialist Ratan Tata in February 2016. At the time of the Series A round, Moglix served over 20,000 SME buyers and approximately 100 large manufacturing houses, with over 200,000 stock keeping units (SKUs) listed on its platform. The company counted customers including Lumax, IndiaForge, and Indian Oil. Moglix planned to deploy the Series A capital to expand its operational footprint across major industrial hubs, increase its SME customer base to 100,000 and large manufacturing buyers to 1,000 within 18 months, and expand operations to South and East India. The company set an ambitious target of achieving $100 million in revenue within three years and was part of the SAP startup studio program for digital acceleration in manufacturing.

Who has invested in Moglix?

18 investors have backed Moglix across its funding rounds, including Jungle Ventures, Accel, Tiger Global, International Finance Corporation, Peak XV Partners and Alpha Wave Global.

Lead investors include Alpha Wave Global, Tiger Global, Harvard Management Company, Composite Capital Management, Peak XV Partners and 4 other investors.


Moglix Investors

Investors in Moglix by funding rounds participated
InvestorHQRoundsRoleFirst check
Jungle VenturesSingaporeSingapore4ParticipantOct 2016
Tiger GlobalUnited StatesNew York City, NY3LeadJul 2019
International Finance CorporationUnited StatesWashington, DC3LeadJul 2017
AccelUnited StatesPalo Alto, CA3LeadOct 2016
Venture HighwayIndiaBangalore2ParticipantJul 2017
Alpha Wave GlobalUnited StatesMiami, FL2LeadMay 2021
Peak XV PartnersIndiaBangalore2LeadJul 2019
Rocketship.vcUnited StatesSan Francisco, CA1ParticipantJul 2017
Ratan TataUnited StatesHouston, TX1ParticipantJul 2019
Kalyan KrishnamurthySingaporeSingapore1LeadMar 2019
Harvard Management CompanyUnited StatesBoston, MA1LeadMay 2021
Neeraj AroraUnited StatesSan Francisco, CA1ParticipantJul 2019
SeedPlusSingaporeSingapore1ParticipantOct 2016

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Acquisitions by Moglix

Moglix has acquired 3 companies to date.

Last acquisition by Moglix was on November 21st 2024. Moglix acquired Khatema Fibres for $10M.


Latest Acquisitions by Moglix

Khatema Fibres
ADI (India distribution unit)
Vendaxo
Description
Khatema Fibres is a Sharjah-headquartered manufacturer of kraft paper, tissue products, and paper bags serving the Middle East and Africa. Operating since 1991 from facilities in the UAE, it produces recycled kraft linerboard and sack kraft paper for packaging industries in Dubai and beyond.
ADI India is the distribution business unit handling industrial goods supply across India through adiglobal.in, part of the global ADI network focused on security and electronics distribution.
Vendaxo is a New Delhi-based online marketplace for buying and selling used industrial machinery across 35 sectors worldwide. The platform lists equipment like chemical processors, diesel generators, textile machines, and steel rolling mills, offering financial assistance, inspections, and logistics support. Vendaxo connects buyers in India, the Middle East, and Africa with global sellers through verified listings and trade directories.
HQ CountryIndiaUnited StatesIndia
HQ City
Khatima
New York City, NY
Noida
Deal Date21 Nov 202411 Oct 20227 Jul 2021
Valuation$10Mundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Investments by Moglix

Moglix has invested in 2 companies to date.

Latest investment by Moglix was on September 12th 2024. Moglix invested in Credlix in their $50M Strategic investment round.


Latest Investments by Moglix

Credlix
Euler Motors
Euler Motors
Description
Credlix is a Mumbai-headquartered fintech platform specializing in collateral-free working capital financing for small and medium enterprises, suppliers, and exporters in India. It offers digital invoice discounting, channel financing, and vendor financing solutions processed within 24 hours through partnerships with banks and non-banking financial companies. Credlix serves manufacturing, trading, and export sectors across 15,000 pincodes nationwide since its founding in 2021. The platform integrates with ERP systems like Tally and SAP for seamless credit assessment based on invoice data and supply chain relationships.
Euler Motors is a Delhi-based manufacturer of electric commercial vehicles, founded in 2018, producing electric three-wheelers such as the HiLoad EV and four-wheelers such as the StormEV for the e-commerce, retail, and logistics sectors. The company operates across dozens of Indian cities, building out sales, service, and charging infrastructure alongside vehicle production. It produces roughly 1,000 vehicles per month.
Euler Motors is a Delhi-based manufacturer of electric commercial vehicles, founded in 2018, producing electric three-wheelers such as the HiLoad EV and four-wheelers such as the StormEV for the e-commerce, retail, and logistics sectors. The company operates across dozens of Indian cities, building out sales, service, and charging infrastructure alongside vehicle production. It produces roughly 1,000 vehicles per month.
HQ CountrySingaporeIndiaIndia
HQ City
Singapore
-
-
Deal Date12 Sep 20243 Oct 202217 Apr 2022
RoundStrategic investmentSeries CSeries B
Raised$50M$60M$5M
Investors-Athera Venture Partners; ADB Ventures; GIC; QRG Investments and Holdings; Blume Ventures-
Valuationundisclosed$200M$70M
EV/Revenue
EV/EBITDA

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Moglix Competitors

Moglix competitors include listed companies like Beijing United and Alibaba Group, and private ones like Tuduoduo, Infra.Market, Zhenkunxing and GrubMarket.

Public and private companies comparable to Moglix
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
TuduoduoChinaBeijingPrivate--$2.3B-
Infra.MarketIndiaMumbaiPrivate$1B-$2.8B-
Beijing UnitedChinaChinaPublicly listed$7.6B$373M$2.2B0.2x
ZhenkunxingChinaShanghaiPrivate--$1.9B-
GrubMarketUnited StatesSan Francisco, CAPrivate--$3.5B-
Alibaba GroupChinaChinaPublicly listed$153B$15B$266B1.6x

Moglix Public Comps

Moglix is still privately-owned, but its public comps include Ocado Group, Beijing United, ACV Auctions, Modivo, Focus Technology, Revolve Group, Syoung Group, Gold.com, Inchcape and Openlane.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Ocado Group$1.9B$135M2.0x1.8x27.3x8.0x
Beijing United$7.6B$373M0.3x0.2x5.9x5.5x
ACV Auctions$760M($19M)2.3x2.1x(89.6x)24.8x
Modivo$2.9B$224M1.0x0.9x12.8x7.3x
Focus Technology$286M$83M4.3x3.9x14.7x13.7x
Revolve Group$1.2B$89M1.0x0.9x13.6x12.9x
Syoung Group$742M$45M2.0x1.9x32.4x24.9x
Gold.com$26B$180M0.0x0.0x5.3x5.2x

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Common questions about Moglix

When was Moglix founded?Moglix was founded in 2015.
Where is Moglix headquartered?Moglix is headquartered in Singapore, Singapore.
Is Moglix publicly listed?No, Moglix is a private, VC-backed company.
What is Moglix's valuation?Moglix was last valued at $2.5B in its Series F in January 2022.
How much funding has Moglix raised?Moglix has raised $472M across 6 funding rounds.
What was Moglix's last funding round?Moglix's last funding round was a $250M Series F in January 2022, led by Alpha Wave Global and Tiger Global.
Who are Moglix's investors?Moglix's investors include Jungle Ventures, Tiger Global, International Finance Corporation, Accel, Venture Highway, Alpha Wave Global, Peak XV Partners, Rocketship.vc, Ratan Tata, Kalyan Krishnamurthy and 8 others.
Which companies are comparable to Moglix?Companies comparable to Moglix include Tuduoduo, Infra.Market, Beijing United, Zhenkunxing, GrubMarket and Alibaba Group.
How many companies has Moglix acquired?Moglix has acquired 3 companies, including Khatema Fibres, ADI (India distribution unit) and Vendaxo.
What was the largest acquisition by Moglix?The $10M acquisition of Khatema Fibres in November 2024 is the largest acquisition Moglix has made to date.
How many companies has Moglix invested in?Moglix has invested in 2 companies, including Credlix and Euler Motors.
What was Moglix's last investment?In September 2024, Moglix invested in Credlix's $50M strategic investment round.

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