Moglix is in discussions to raise $100-150 million from new and existing investors, while Investcorp is close to leading a $45-million funding round in Wakefit, Mint reported.
Kimera could lead Moglix’s round
B2B e-commerce platform for manufacturing goods, Moglix, is in discussions to raise $100-150 million from new and existing investors in a fresh round of funding, Mint reported quoting industry sources.
Kimera, a Dubai-based family office, is expected to lead the round, the report said.
The Moglix spokesperson, however, denied the development saying, “We have not initiated any fundraise.”
According to the report, the company is expecting a 20% premium on its last valuation of $2.6 billion in the latest round.
Earlier this year, Moglix raised $250 million in a Series F funding round co-led by alternative asset manager Alpha Wave Global and Tiger Global Management. The startup is also backed by investors including Sequoia Capital, Accel Partners, International Finance Corporation, Harvard Management Company, and others.
Wakefit may raise $45m in funding
Bahrain-based alternative investment firm Investcorp is close to leading a $45-million funding round in mattress maker and home solutions provider Wakefit Innovations Pvt Ltd.
Wakefit’s existing investors, including Sequoia Capital India, are likely to join the round, which is likely to value the Bengaluru-headquartered startup at $303 million, the Mint report said citing a source.
The startup will use the funding proceeds for expansion, to buy back employee stock options, and to acquire smaller brands.
Wakefit had raised about $27 million in its Series C round of funding led by SIG Global in November last year. The company raised Rs 185 crore as a part of its Series B funding round led by European investment firm Verlinvest in December 2020.