Funding round
Moglix Series C
Moglix, which works in industrial products retail and distribution in Singapore, raised $23M in a Series C round announced on 18 Dec 2018, led by Accel, Jungle Ventures and International Finance Corporation. 8 firms took part, 3 of them already investors. It is Moglix's third venture round on record; the one before was a Series B in Jul 2017.
$23M
Amount raised
Not disclosed
Post-money valuation
8
Investors
3 leads
Valuation
What this round says about the price
Moglix did not disclose a valuation in this round. It came 17 months after Moglix's Series B. It is 4.9% of the $469M Moglix has raised in the venture rounds on record. Moglix raised again 7 months later: a Series D round of $60M in Jul 2019. 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 6 Jul 2017, led by International Finance Corporation $12M
- Series C this round 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
Accel, Jungle Ventures and International Finance Corporation led the round with 5 other firms. Accel, Jungle Ventures and International Finance Corporation had backed Moglix before.
Lead investors
- Accel backs 581 venture-backed companies existing investor
- backs 37 venture-backed companies existing investor
- International Finance Corporation backs 92 venture-backed companies existing investor
Also in the round
- Venture Highway new investor
- backs 28 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- backs 34 venture-backed companies new investor
- backs 2 venture-backed companies new 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
8 Series C rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $27M, and this round was 86% of the median. The closest in time, other companies' Series C rounds in Industrial Machinery & Supplies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Sunfire Industrial Machinery & Supplies | 8 Jan 2019 | $29M | not disclosed | Paul Wurth S.A. |
| Industrial Machinery & Supplies | 4 Oct 2018 | $8.0M | not disclosed | Material Impact and Michigan Capital Advisors |
| UBTECH Industrial Machinery & Supplies | 3 May 2018 | $820M | $5.00B | Tencent |
| Industrial Machinery & Supplies | 17 May 2018 | $25M | not disclosed | Continental |
| Industrial Machinery & Supplies | 23 Jul 2019 | $12M | not disclosed | Cue Ball |
| Industrial Machinery & Supplies | 23 Apr 2018 | $30M | not disclosed | Tyche Partners |
| Industrial Machinery & Supplies | 10 Sep 2019 | $39M | not disclosed | Octopus Ventures |
| Industrial Machinery & Supplies | 5 Oct 2019 | $23M | not disclosed | Dundon Capital Partners |
Sources
Where this comes from
Reported by 2 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did Moglix raise in its Series C round?
Moglix raised $23M in its Series C round, announced in Dec 2018.
Who led Moglix's Series C round?
Accel, Jungle Ventures and International Finance Corporation led it, with Venture Highway, InnoVen Capital, SeedPlus, Rocketship.vc and Arc180.
What was Moglix's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Industrial Machinery & Supplies?
8 Series C rounds in Industrial Machinery & Supplies within a year either side disclosed an amount; the median was $27M, and this round was 86% of the median.
Did Moglix raise again after this round?
Yes: a Series D round in Jul 2019 of $60M.