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Moglix valuation doubles to $2.6 billion in less than a year

Moglix is among a slew of B2B commerce firms to benefit from the pandemic.

January 28, 2022 / 04:35 PM IST
Rahul Garg, Founder and CEO, Moglix.

Rahul Garg, Founder and CEO, Moglix.

Industrial goods marketplace Moglix said January 28 that it has raised $250 million, valuing it at $2.6 billion, more than double its valuation from May last year, as B2B marketplaces have grown faster than ever before.

Moglix raised the Series F round led by existing investor Tiger Global and Alpha Wave (Falcon Edge) with new investor Ward Ferry joining the round.

Moglix also said its seed investors (whom it did not name) made a return of 80 times their investment selling shares in this round.

Founded by Rahul Garg, a former Google executive, in 2015, Moglix sells a wide range of industrial tools, including hammers, drills, wrenches, office stationery and supplies, hospital supplies and automotive supplies.