Moglix

Moglix is an Asia-based Ratan Tata backed[1] supply chain solutions and E-commerce company, headquartered in Singapore, with interests in the verticals of B2B eCommerce (Moglix), enterprise procurement solutions (Moglix Business), and contract management solutions for procurement and supply chain (Moglix SaaS). Moglix is an industrial products marketplace focusing on procuring and supplying utility-based products such as fasteners, MRO (manufacture, repair, and operating supplies), electrical, pneumatics, hardware and safety items and more.[2][3][4][5] As an enabler of enterprise procurement solutions, Moglix Business partners with large enterprises in the manufacturing sector to provide procurement solutions for “class C spend” items like MRO, packaging, and digital supply chain transformation. The company targets manufacturing companies with turnover between $15.5 million to $1.5 billion and the Small and medium-sized enterprises[3] to support them automate their supply chain. Moglix is based in Noida, India and currently and has a footprint across 23 locations, including Mumbai, Pune, Ahmedabad, Delhi NCR,Gurugram,Ludhiana,Kolkata, Chennai, Aurangabad, Pantnagar,Madurai, and Bengaluru In the backdrop of the emerging realities of the COVID19 pandemic, it is expanding and consolidating its existing business by widening the customer base to offline clients as well by targeting new businesses, hospitals, and lab supplies in mature markets like the United Kingdom and other geographies in Europe. Moglix caters to more than 500 large manufacturing enterprises and over 5,00,000 MSMEs in India. The company has 10,000 suppliers across 25 states and exports to 100+ locations across the globe. In 2018, Moglix has been recognized as the top firm in Deloitte's technology fast 50 lists.[6][7] The company also won the 11th edition of SAP ACE Awards 2018 in Sourcing Excellence category.[8] In 2019, Moglix was once again featured in the  Deloitte Top 10 Technology Fast 50 India list, bagging the 6th position. In 2020, Moglix featured in the CB Insights & Fast Company’s 50 Future Unicorn List. Moglix is backed by a diverse and inclusive team of 750+ young and dynamically adept professionals, coming from academically refined institutions, like IITs, IIMs and ISBs.

Moglix
Type of site
E-commerce
Available inEnglish
Founded2014 (2014)
HeadquartersSingapore
Founder(s)Rahul Garg
Key peopleRahul Garg (CEO & Founder)
ServicesOnline shopping
Employees750
URLwww.moglix.com
CommercialYes
RegistrationRequired
Current statusOnline

History

Moglix was launched in 2014 and was officially founded in August 2015 by Rahul Garg[8][3][4] who was formerly Head of Advertising Exchange at Google Asia.[9] He incorporated the company after taking an in-depth experience of the B2B markets in China, Taiwan, and Africa. Moglix is operated by Noida-based Mogli Labs Private Limited.

In 2016, when the company hit its step. The company expanded from one location to two, Delhi and Noida list 10 categories and 50 brands.

The company has worked with over 250 organizations including Havells, IndiaForge, Vedanta, Yamaha GSK, Lumax, LoMax, Kirloskar and Tata Chemicals,LucasTVS and more than 220,000 small and medium-sized enterprises all over India.

In December 2016, Moglix launched Green GST, a SAAS-based GST application solution for manufacturing units all over India. The Green GST will provide the entire organizations with end-to-end Goods and Services Tax (GST) compliance support.[10]

Moglix tied up with wholesale dealers in markets such as Faridabad, Delhi, and Gujarat besides partnering with Chinese and Taiwanese suppliers.[11] The company has partnered with SAP Start-up Studio.[12]

Funding

In October 2015, Moglix received about $1.5 Million pre-Series A funding from Accel and Jungle Ventures. Furthermore, in February 2016, Ratan Tata invested an undisclosed amount in the company.[6][7][5][13][2]

In October 2016, the company received a funding of $4.2 Million (INR 28 Cr) in Series A round led by Accel Partners with participation from Jungle Ventures and SeedPlus.[9]

In July 2017, Moglix raised Series B round of funding of USD 12 Million from a member of the World Bank Group, International Finance Corporation (IFC), Rocketship VC, and also existing investors Jungle Ventures, Accel Partners and Venture Highway, Shailesh Rao, ex-VP Twitter & Google and Venture Highway, advised by Neeraj Arora of WhatsApp.[3][10][4]

In December 2018, Moglix raised about $23 Million (INR 164.57 crore) in Series C round of funding led by existing investors Jungle Ventures and International Finance Corporation (IFC), Accel Partners, members of the World Bank Group.[3]

In July 2019, Moglix raised $60 Million (INR Rs 412 crore) in Series D funding round led by Tiger Management, and Sequoia Capital.[14]

Awards and recognitions
  • 2018: Won 11th edition of SAP ACE Awards 2018 in Sourcing Excellence category.[8][15]
  • 2018: Recognized as the top firm on Deloitte's Technology Fast 50 list.[6]

See also

References
  1. www.ETtech.com. "Ratan Tata backed Moglix raises $12M in series-B funding - ETtech". ETtech.com. Retrieved 2020-02-06.
  2. Chaudhary, Deepti (8 February 2016). "Ratan Tata invests in B2B marketplace Moglix". Forbes India.
  3. Gooptu, Biswarup (17 December 2018). "Accel US & IFC lead $23M Series C funding into Moglix". The Economic Times.
  4. Mishra, Aparna (6 July 2017). "B2B Ecommerce Marketplace Moglix Raises $12 Mn Funding From IFC, Others". Inc42.
  5. "Ratan Tata invests in B2B marketplace Moglix". Moneycontrol. 8 February 2016.
  6. "Noida-based Moglix the fastest growing Indian tech company: Deloitte India's Technology Fast 50 2018". The Economic Times. 27 October 2018.
  7. "This Ratan Tata funded e-commerce firm posted 11,836% growth in 3 years; check list of top 10 firms". The Financial Express. 29 October 2018.
  8. "Moglix bags SAP ACE AWARD 2018 for Sourcing Excellence". Business Standard. 26 April 2018.
  9. Singh, Arti (4 October 2016). "Accel Partners, Jungle Ventures invest $4 mn in B2B marketplace Moglix". techcircle.
  10. Ganguly, Payal (6 July 2017). "Ratan Tata backed Moglix raises $12M in series-B funding". The Economic Times.
  11. "Moglix raises seed funding of about $1.5 million from Accel and Jungle". The Economic Times. October 30, 2015.
  12. "Moglix Joins SAP Startup Studio as It Continues Path Towards Disrupting B2B Commerce". BusinessWorld. July 1, 2016.
  13. "Ratan Tata now invests in B2B marketplace Moglix". Indian Express Limited. 8 February 2016.
  14. Gooptu, Biswarup (11 July 2019). "Moglix lands $60 million funding led by Tiger Global and Sequoia Capital". The Economic Times.
  15. "Moglix fastest growing tech company in India, followed by Razorpay: Deloitte report". The News Minute. October 29, 2018.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.