NEW DELHI, July 15 (Bernama-BUSINESS WIRE) — Moglix, India’s largest and fastest-growing B2B commerce company, announced closure of Series D round of funding of USD 60 Million. It was led by Tiger Global, Sequoia India and Composite Capital. Its current investors include Accel Partners, Jungle Ventures, IFC, Venture Highway and Tata Sons’ Chairman Emeritus Ratan Tata.
Rahul Garg, Founder & CEO, Moglix, said, “We are excited to lead procurement transformation, building the right distribution model for modern India. I believe this change will impact how Indian suppliers, buyers, and overall B2B supply chain will shape up in the coming century. We are glad to have Tiger Global, Sequoia India and Composite Capital, join us in the journey. It is great to see how Moglix is on a major upsurge, growing at 300% YOY with an exuberant team. The funds will be critical in fueling expansion efforts by optimizing efficiencies in our focus areas such as technology innovation, analytics, and building & owning a wide logistics infrastructure network. We foresee an immense strength and scope of innovation in the B2B commerce space and the sectors we operate in.”
