Funding round
Moglix Series B
Moglix, which works in industrial products retail and distribution in Singapore, raised $12M in a Series B round announced on 6 Jul 2017, led by International Finance Corporation. 5 firms took part, 3 of them already investors. It is Moglix's second venture round on record; the one before was a Series A in Oct 2016.
$12M
Amount raised
Not disclosed
Post-money valuation
5
Investors
1 lead
Valuation
What this round says about the price
Moglix did not disclose a valuation in this round. It came 9 months after Moglix's Series A. It is 2.6% of the $469M Moglix has raised in the venture rounds on record. Moglix raised again 17 months later: a Series C round of $23M in Dec 2018. Its next priced round, a Series E in May 2021, valued it at $1.00B.
Moglix's funding rounds
Moglix has 6 venture rounds on record. This one is highlighted.
- Series A 4 Oct 2016, led by Accel $4.2M
- Series B this round 6 Jul 2017, led by International Finance Corporation $12M
- Series C 18 Dec 2018, led by Accel, Jungle Ventures and International Finance Corporation $23M
- Series D 11 Jul 2019, led by Tiger Global $60M
- Series E 16 May 2021, led by Falcon Edge Capital and Harvard Management Company $120M$1.00B post-money
- Series F 28 Jan 2022, led by Tiger Global and Alpha Wave Global $250M$2.60B post-money
Investors
Who put money in
International Finance Corporation led the round with 4 other firms. Accel, Jungle Ventures and Venture Highway had backed Moglix before.
Lead investor
- International Finance Corporation backs 92 venture-backed companies new investor
Also in the round
- backs 34 venture-backed companies new investor
- Accel backs 581 venture-backed companies existing investor
- backs 37 venture-backed companies existing investor
- Venture Highway existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
10 Series B rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $22M, and this round was 55% of the median. The closest in time, other companies' Series B rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Industrial Machinery & Supplies | 17 Jul 2017 | $16M | not disclosed | not named |
| Industrial Machinery & Supplies | 20 Nov 2017 | $25M | not disclosed | Scale Venture Partners |
| Industrial Machinery & Supplies | 1 Jan 2018 | $30M | not disclosed | not named |
| Industrial Machinery & Supplies | 19 Jan 2017 | $22M | not disclosed | Alsop Louie Partners |
| Industrial Machinery & Supplies | 5 Oct 2016 | $30M | not disclosed | Inovia |
| Industrial Machinery & Supplies | 18 May 2018 | $21M | not disclosed | SoftBank China Venture Capital and CCV |
| Industrial Machinery & Supplies | 3 Aug 2016 | $35M | not disclosed | Foundry |
| Industrial Machinery & Supplies | 1 Aug 2016 | $22M | not disclosed | Foundry and True Ventures |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Moglix raise in its Series B round?
Moglix raised $12M in its Series B round, announced in Jul 2017.
Who led Moglix's Series B round?
International Finance Corporation led it, with Rocketship.vc, Accel, Jungle Ventures and Venture Highway.
What was Moglix's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Industrial Machinery & Supplies?
10 Series B rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $22M, and this round was 55% of the median.
Did Moglix raise again after this round?
Yes: a Series C round in Dec 2018 of $23M.