India’s Moglix valued at $1 billion in $120 million fundraise

Tech News

Moglix, an industrial business-to-business marketplace, said on Monday it has raised $120 million in a new financing round at $1 billion valuation, becoming the 12th firm in the world’s second largest market to turn a unicorn.

The startup’s Series E financing round was led by Falcon Edge Capital and Harvard Management Company (HMC). Existing investors, Tiger Global, Sequoia Capital India and Venture Highway. TechCrunch reported earlier this year that Tiger Global was in talks to invest in Moglix at $1 billion valuation.

This is a developing story. More to follow…

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