Moglix founder Rahul Garg always wanted to do big in life and with this aim in mind he founded Moglix in 2015. Rahul Garg completed his engineering from IIT Kanpur and then worked at Google for around five years before he launched Moglix, a Noida-based industrial business-to-business marketplace. Moglix is an e-commerce platform for industrial tools and equipment and its services is mostly used by businesses.
Moglix now has its manufacturing plants across India, Singapore, the UK, and the UAE. The company also offers an end-to-end procurement solution including resource planning and financing. Some of the well-known customers of Moglix are Hero MotoCorp, Vedanta, Tata Steel, Unilever, Air India, and NTPC.
On May 17, 2021, Moglix became a unicorn, after it managed to raise USD 120 million in Series E funding. Moglix’s backers include Falcon Edge Capital, Accel, Sequoia Capital, Tiger Global Management, Ratan Tata, and Jungle Ventures.
“I wanted to transform the B2B e-commerce space because I felt that with the kind of changes that were happening in the B2C segment and with manufacturing infrastructure being the core part of the Indian economy, there was an opportunity in procurement, supply chain, and technology,” Garg once said in an interview to Forbes India. “For manufacturing to become a trillion-dollar economy, we need to reimagine and reconstruct this entire distribution. And that's what we set out to do,” he added.
In January 2022, Moglix doubled its valuation to about USD 2.6 billion from USD 1 billion just eight months ago.
According to reports, Moglix serves 500,000 small, medium-sized businesses and enterprises.
