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Moglix

From Wikipedia - Reading time: 4 min
Moglix
Company typePrivate
IndustryB2B eCommerce
Founded2015, Singapore
FounderRahul Garg (Founder & CEO)
HeadquartersSingapore
Area served
India, Singapore, the UK, the UAE, and the US
Number of employees
1300+
Websitebusiness.moglix.com

Moglix is an Indian e-commerce company headquartered in Singapore, established in 2015.[1] It operates in India, the USA, the UK, and Europe. [2][3][4] The company is owned and operated by Mogli Labs.[5][6]

History

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Moglix was founded in 2015 by Rahul Garg, a former Google executive and an alumnus of IIT Kanpur and ISB.[7] The company began its operations in August 2015 and received initial funding from Ratan Tata and Accel Partners in October 2015.[4] Initially, Moglix focused on B2B e-commerce before expanding into enterprise procurement and SaaS verticals. In December 2016, Moglix launched Green GST, a SaaS-based platform for manufacturing sector GST processes,[8] and became part of the SAP Startup Studio, an accelerator program by SAP Labs India.[9]

In 2017, Moglix secured Series B funding from the International Finance Corporation and expanded operations to new cities, including Delhi and Noida. It also launched a subsidiary called Zoglix in the US. Moglix’s board of advisors includes Tata Group chairman Ratan Tata and Sailesh Rao, former vice president of Twitter. In August 2017, Jeff Epstein, operating partner at Bessemer Venture Partners joined the board of advisors.[9]

By 2020, Moglix had presence in 35 cities in India, including Goa and Guwahati.[10][11]

In 2020, the company established partnerships with government agencies and enterprises in the United Kingdom for PPE supply.[11] In 2021, Moglix launched Credlix for supply chain financing and acquired Singapore-based EXIM fintech company NuPhi.[2]

In 2022, Moglix expanded its operations to Khalifa Port Free Trade Zone (KIZAD) in Abu Dhabi.[2] During the same year, the company invested around $5 million in EV manufacturing company Euler motors.[12] Additionally, in 2022, Moglix launched a subsidiary company called Zoglix with the aim of expanding its presence in the US market.[13]

In 2023, Moglix announced that it operates 3,000 manufacturing plants and 40 warehouses across India, Singapore, the UK, and the UAE.[14] In 2023 Moglix laid off 40 employees, which is 3% of its total staff.[15]

Acquisitions

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In July 2020, Moglix acquired used machinery ecommerce platform Vendaxo in July 2021 for an undisclosed amount.[5]

In November 2021, Credlix, a subsidiary of Moglix, acquired Singapore-based EXIM fintech company NuPhi.[2]

In October 2022, Moglix acquired global security and surveillance distribution company’s Indian arm – ADI.[14][16]

References

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  1. ^ Balachandran, Manu. "Moglix: How Rahul Garg Built An Unexpected Unicorn". Forbes India. Retrieved 2023-09-20.
  2. ^ a b c d "Mogli(x) is ready for a higher leap". businessindia.co. Retrieved 2023-09-20.
  3. ^ "Moglix valuation doubles to $2.6 billion in less than a year". Moneycontrol. 2022-01-28. Retrieved 2023-09-20.
  4. ^ a b "Can An Industrial Goods Platform Be Unicorn? It Takes Rahul Garg's Toolkit". Forbes India. Retrieved 2023-09-20.
  5. ^ a b Sil, Debarghya (2023-01-06). "Moglix's Revenue Jumps 3X YoY To $307 Mn In FY22, Loss Widens To $22 Mn". Inc42 Media. Retrieved 2023-09-20.
  6. ^ "Tiger Global-backed Moglix to boost sustainable packaging biz with ₹80-crore buy". Livemint. 21 November 2024.
  7. ^ Arakali, Harichandan. "How Valuable Companies Are Driving Change With Innovative Approach". Forbes India. Retrieved 2023-09-20.
  8. ^ "The 1-3-6 learning framework - Livemint". 2018-06-17. Archived from the original on 2018-06-17. Retrieved 2023-09-20.
  9. ^ a b "Jeff Epstein joins Moglix Board of Advisors". The Times of India. 2017-08-23. ISSN 0971-8257. Retrieved 2023-09-22.
  10. ^ "Watch: Moglix CEO Rahul Garg on new frontiers, acquisitions". Techcircle. 2020-11-17. Retrieved 2023-09-22.
  11. ^ a b "Moglix expands in India, sets up supply chain in Assam, Goa". The Economic Times. 2020-11-10. ISSN 0013-0389. Retrieved 2023-09-22.
  12. ^ Kaur, Jaspreet (2022-04-18). "Euler Motors Raises $5 Mn From Moglix; Valuation Soars To $70 Mn". Inc42 Media. Retrieved 2023-09-22.
  13. ^ "Rahul Garg left Google to transform manufacturing supply chain". The Times of India. 2023-02-17. ISSN 0971-8257.
  14. ^ a b Roy, Shubhobrota Dev (2022-10-11). "Moglix acquires ADI's Indian distribution unit for industrial goods". mint.
  15. ^ "Moglix lays off up to 3% workforce". VCCircle. Retrieved 2023-09-28.
  16. ^ "'Want to take Indian manufacturing supply chain capabilities to World'". The Times of India. 2022-10-31. ISSN 0971-8257. Retrieved 2023-09-22.
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Licensed under CC BY-SA 3.0 | Source: https://en.wikipedia.org/wiki/Moglix
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