Company Name : Moglix
Investor(s) Ratan Tata
Funding Round : Angel round
Moglix, an e-commerce company specializing in B2B procurement of industrial products, today announced an undisclosed financial investment in the company by renowned industrialist, Mr. Ratan Tata.
This marks Mr. Tata’s entry as an investor in a manufacturing tech-startup, adding to his varied portfolio of e-commerce and new-age technology enabled companies. With his expertise and keen interest in the sector, Mr. Tata will play an important role in mentoring Moglix on business growth, global expansion and leadership.
Founded in August 2015 by Rahul Garg, a former Google employee with extensive experience in building global products and running sales across Asia, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe.
The company currently specializes in B2B procurement of industrial products such as MRO, Fasteners and Industrial Electricals and is partnering with manufacturers and distributors across these categories in India, China and other Asian countries. Moglix is also playing an important role in facilitating online convenience and enabling supply chain efficiencies in business purchasing.
Moglix recently raised Pre-Series A funding from Accel Partners and Jungle Ventures. The funds are being used to enhance the technology platform, build a deep supplier base as well as increase marketing spends across Asia.
As the Government is aggressively driving manufacturing growth in India through the Make in India and Digital India campaigns, Moglix is passionate about steering the company to build on the initiatives. The company is focused on bringing technology and manufacturing together to drive transparency, efficiency and scale for manufacturing companies within India, making them globally competitive and enabling the use of technology for procurement, sales and marketing, supply network optimization in both domestic and global markets.