International Finance Corp.

MogliLabs, which owns and operates B2B industrial goods marketplace Moglix, has raised $23 million (about Rs 164.57 crore) in a fresh round of funding, which was led by marquee venture capital firm Accel Partners US and existing investor International Finance Corp (IFC). The latest round of funding comes about 15 months after the Singapore and Noida-based company, which also counts Accel India, Jungle Ventures, IFC and former WhatsApp senior executive Neeraj Arora among its list of backers, closed its $12 million Series B equity financing round in July last year. “Today, the manufacturing sector is $300 billion in size, and has the potential to reach $1 trillion by 2025. However, the adoption of technology is less than 1% currently…We foresee immense pot...

B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore's Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We plan to penetrate deeper... and expand our offering to other services,” said Rajesh Yabaji, co-founder and chief executive at Blackbuck, adding that the firm looked at venture debt as a means to diversify its sources of funding. “For us it was about trying out different sources of capital. At different phases, access to different sources of capital has opened up for us. Venture debt is one of the things we wanted to try. Inn...

Tag: International Finance Corp.

Moglix Secures $23 million in a Fresh Funding Round

BlackBuck Raises $7.6M Venture Debt From InnoVen