Moglix – a B2B e-commerce platform for manufactured goods – has just been promoted to unicorn status, for its valuation has hit US$1 billion ($1.34 billion).

This follows the completion of its US$120 million Series E funding round that was led by asset managers Falcon Edge Capital and Harvard Management Company. Other investors that had participated in this round include Tiger Global, Sequoia Capital India and Venture Highway.

The latest equity infusion brings the total funds raised by Moglix to US$220 million.

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