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Moglix

Topic: Company

 From HandWiki - Reading time: 4 min
Moglix
TypePrivate
IndustryB2B e-commerce
Founded2014
FounderRahul Garg
Headquarters
Singapore
Number of locations
35[1]
Area served
India, Singapore, the UK and the UAE[2]

Moglix is an Indian B2B e-commerce company for industrial products with headquarters in Singapore. It is owned by Mogli Labs Private Limited.[3]

History

Moglix was founded in 2014 by IIT Kanpur and ISB alumnus Rahul Garg[4] who was previously working as the Head of Advertising Exchange at Google Asia.[5][6]

In 2016, the company expanded its operations to other cities, including Delhi and Noida.[7][8]

In December 2016, Moglix launched Green GST, a SAAS-based GST platform to improve transparency and digitization in the manufacturing space.[9][10]

Moglix partners with Chinese and Taiwanese suppliers and wholesale dealers from Faridabad, Delhi, and Gujarat.[11] The company has also partnered with SAP Start-up Studio.[12]

In February, the company ventured into the supply-chain financing space with the launch of Credlix.[13]

In May 2021, the company became a unicorn startup after it raised USD $120 million in a round led by Falcon Edge Capital and Harvard Management Company (HMC), valuing it at USD $1 billion.[5][14]

Moglix works with companies and SMEs and manufacturing plants across India, Singapore, the UK and the UAE to help them procure industrial goods.[5][15][16]

Corporate social responsibility

Moglix is a member of a consortium of ten manufacturers that came together to contribute towards Covid-19 relief initiatives.[16] Moglix provided oxygen concentrators for people in need and donated PPE kits and N95 masks during the first wave of Covid-19 in 2020.[5][17][18]

Investments

Moglix raised USD $1.5 million in a Pre-Series A round of financing in 2015. This round was being led jointly by American venture capital firm Accel and Jungle Ventures.[19] In 2016, Ratan Tata made an undisclosed investment in the company.[20][21] In 2016, the company received USD $4.2 million in its series A round from SeedPlus and existing investors.[3] In 2017, the company raised an additional $12 million from a member of the World Bank Group, International Finance Corporation (IFC), Rocketship VC, and also existing investors.[22] In December 2018, Moglix raised approximately USD $23 million 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.[23] In 2019 the company raised USD $60 million in its series D round of funding.[24] In 2021, Moglix completed another round of funding of USD $120 million at a post-money valuation of $1 billion.[25]

Awards and recognition

  • 11th edition of SAP ACE Awards 2018 in Sourcing Excellence category[26]
  • Recognized as the top firm on Deloitte's Technology Fast 50 list[27]

References

  1. ↑ "Moglix expands in India, sets up supply chain in Assam, Goa". The Economic Times. https://economictimes.indiatimes.com/small-biz/sme-sector/moglix-expands-in-india-sets-up-supply-chain-in-assam-goa/articleshow/79144801.cms. 
  2. ↑ Bhalla, Tarush (2021-05-17). "Moglix joins unicorn club after $120 million funding round" (in en). mint. https://www.livemint.com/companies/news/moglix-becomes-latest-startup-to-join-unicorn-club-after-120-million-fundraise-11621229639428.html. 
  3. ↑ 3.0 3.1 "Industrial goods marketplace Moglix raises $4 mn in funding" (in en-US). 2016-10-04. https://www.vccircle.com/industrial-goods-marketplace-moglix-raises-4-mn-funding. 
  4. ↑ V, Vaidyanathan (16 December 2020). "Leaders Of Tomorrow Season 9" (in en). https://www.timesnownews.com/videos/et-now/shows/leaders-of-tomorrow-season-9-exclusive-with-v-vaidyanathan/83933. 
  5. ↑ 5.0 5.1 5.2 5.3 Balachandran, Manu (7 June 2021). "Moglix: How Rahul Garg Built An Unexpected Unicorn" (in en). https://www.forbesindia.com/article/startups/moglix-how-rahul-garg-built-an-unexpected-unicorn/68373/1. 
  6. ↑ "Rahul Garg: A Disruptor In The Domain Of Ecommerce". BW Businessworld. 14 November 2019. http://www.businessworld.in/article/Rahul-Garg-A-Disruptor-In-The-Domain-Of-Ecommerce/14-11-2019-178957/. 
  7. ↑ "Moglix raises $12M Series B to digitize India’s manufacturing industry" (in en-US). https://social.techcrunch.com/2017/07/06/moglix-raises-12m-series-b-to-digitize-indias-manufacturing-industry/. 
  8. ↑ "Moglix: Solving Supply Chain Automation Snag For Manufacturing Industry" (in en-US). 2017-09-20. https://inc42.com/startups/moglix-manufacturing-industry-supply-chain-b2b/. 
  9. ↑ "Ratan Tata backed start-up Moglix launches GST platform" (in en-US). 2016-12-19. https://www.financialexpress.com/industry/ratan-tata-backed-start-up-moglix-launches-gst-platform/479568/. 
  10. ↑ Singh, Shreyasi (2018-01-14). "The 1-3-6 learning framework" (in en). https://www.livemint.com/Leisure/wujQDzUwimAOKsnF3K87wN/The-136-learning-framework.html. 
  11. ↑ Jejani, Abhishek (2016-10-16). "Moglix: Using tech to disrupt distribution". Business Standard India. https://www.business-standard.com/article/companies/moglix-using-tech-to-disrupt-distribution-116101600766_1.html. 
  12. ↑ "Moglix Joins SAP Startup Studio as It Continues Path Towards Disrupting B2B Commerce" (in en). http://bwdisrupt.businessworld.in/article/Moglix-Joins-SAP-Startup-Studio-as-It-Continues-Path-Towards-Disrupting-B2B-Commerce/01-07-2016-99926. 
  13. ↑ "Moglix launches supply chain finance platform Credlix". The Economic Times. 15 February 2021. https://economictimes.indiatimes.com/small-biz/sme-sector/moglix-launches-supply-chain-finance-platform-credlix/articleshow/80919912.cms. 
  14. ↑ "B2B ecommerce platform Moglix enters unicorn club with $120 million funding". The Economic Times. https://economictimes.indiatimes.com/tech/funding/moglix-raises-120-million-joins-unicorn-club/articleshow/82702008.cms. 
  15. ↑ "Rahul Garg - India’s Young & Brightest Entrepreneurs in 40 Under 40 2019 - Fortune India" (in en). https://www.fortuneindia.com/40under40/rahul-garg?year=2019. 
  16. ↑ 16.0 16.1 Balachandran, Manu (9 June 2021). "Can An Industrial Goods Platform Be Unicorn? It Takes Rahul Garg's Toolkit" (in en). https://www.forbesindia.com/article/startups/can-an-industrial-goods-platform-be-unicorn-it-takes-rahul-gargs-toolkit/68407/1. 
  17. ↑ Carvalho, Brian (7 June 2021). "Startup Special: Shining A Light On Non-urban India" (in en). https://www.forbesindia.com/article/column/startup-special-shining-a-light-on-nonurban-india/68365/1. 
  18. ↑ Carvalho, Brian (7 June 2021). "Startup Special: Shining A Light On Non-urban India" (in en). https://www.forbesindia.com/article/column/startup-special-shining-a-light-on-nonurban-india/68365/1. 
  19. ↑ Julka, Harsimran. "Moglix raises seed funding of about $1.5 million from Accel and Jungle". The Economic Times. https://economictimes.indiatimes.com/small-biz/startups/moglix-raises-seed-funding-of-about-1-5-million-from-accel-and-jungle/articleshow/49589447.cms. 
  20. ↑ Nair, Sulekha (2016-02-08). "Ratan Tata's 6th investment in 2016 is B2B platform Moglix; founder Rahul Garg 'extremely pleased'-Business News , Firstpost". https://www.firstpost.com/business/ratan-tatas-6th-investment-in-2016-is-moglix-founder-rahul-garg-extremely-pleased-2616502.html. 
  21. ↑ Chaudhary, Deepti (8 February 2016). "Ratan Tata Invests In B2B Marketplace Moglix" (in en). https://www.forbesindia.com/article/special/ratan-tata-invests-in-b2b-marketplace-moglix/42173/1. 
  22. ↑ "Moglix raises $12M Series B to digitize India’s manufacturing industry" (in en-US). https://social.techcrunch.com/2017/07/06/moglix-raises-12m-series-b-to-digitize-indias-manufacturing-industry/. 
  23. ↑ "Moglix raises $23M to digitize India’s manufacturing supply chain" (in en-US). https://social.techcrunch.com/2018/12/18/moglix-raises-23m-to-digitize-indias-manufacturing-supply-chain/. 
  24. ↑ "B2B Marketplace Moglix Raises $60 Mn From Tiger Global, Sequoia" (in en-US). 2019-07-11. https://inc42.com/buzz/moglix-raises-60-mn-funding-from-tiger-global-sequoia-capital/. 
  25. ↑ Bhalla, Tarush (2021-05-17). "Moglix joins unicorn club after $120 million funding round" (in en). https://www.livemint.com/companies/news/moglix-becomes-latest-startup-to-join-unicorn-club-after-120-million-fundraise-11621229639428.html. 
  26. ↑ "SAP Celebrates India Inc’s Digital Champions at the 11th ACE Awards" (in en-US). 2018-04-23. https://www.dqchannels.com/sap-celebrates-india-incs-digital-champions-at-the-11th-ace-awards/. 
  27. ↑ "Technology Fast 50 India 2018 winners report". https://www2.deloitte.com/content/dam/Deloitte/in/Documents/technology-media-telecommunications/in-tmt-tech-fast-50-2018-winners-report-noexp.pdf. 

External links




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