Moglix has raised $120 million in funding

B2B industrial goods marketplace Moglix has brought $120 million up in its Series E financing round drove by Falcon Edge Capital and Harvard Management Company. In a press proclamation, the organization professed to have become a unicorn with the fresh proceeds, in any case, Fintrackr’s assessments show that it has missed the $1 billion valuation mark with a decent margin.

Regulatory filings in Singapore show that on May 6, Moglix apportioned 84,804 inclination shares and 2,494 ordinary shares at an issue cost of $1202.74 per share. On May 4 and two days before this portion, the organization had alloted 43,151 inclination offers to Sequoia at an issue cost of $370.79 per share.

While we have seen growth stage start-ups give a chance to its initial benefactors get a few offers at a lower valuation before a huge round, Sequoia has contributed $16 million at an issue cost of $370.74 per share, basically contributing two third of its total interest in the Series E round at a markdown of 69%.