AZB & Partners lead acquisition of equity stake by Tiger Global in Moglix in Series E equity funding round
AZB & Partners lead acquisition of equity stake by Tiger Global in Moglix in Series E equity funding round Moglix – an industrial goods marketplace has raised $120 million in a Series E funding round. Post the funding, Moglix has joined India's unicorn club. Founded by Rahul Garg, Moglix is an Asia-based B2B commerce company specializing in the procurement of B2B industrial...
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AZB & Partners lead acquisition of equity stake by Tiger Global in Moglix in Series E equity funding round
Moglix – an industrial goods marketplace has raised $120 million in a Series E funding round. Post the funding, Moglix has joined India's unicorn club.
Founded by Rahul Garg, Moglix is an Asia-based B2B commerce company specializing in the procurement of B2B industrial products and provides digital procurement and supply chain solutions across industries.
Tiger Global, along with other investors including Alpha Wave Ventures, LP, SCI Investments VI-I, Harvard Management Private Equity Corporation and Moglix SPV, a series of Venture Highway SPVs II LLC participated in the round.
Rahul Garg, Founder and Chief Executive Officer, Moglix said in a Press Release, "We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector. We are glad that Falcon Edge Capital and Harvard Management Company (HMC) have partnered with us in this journey. Falcon Edge, with its deep roots in the Middle East and Europe and an understanding of public companies will guide us through the next phase of our journey."
AZB & Partners advised Tiger Global in the transaction. The team comprised of Partners – Ashwath Rau, Srinath Dasari and Bhuvana Veeraragavan alongwith Senior Associate – Karishma Dugar.
