In the last few years, most of the efficiencies identified and solved problems of the end consumers but Business-to-Business (B2B) segment e-commerce has not seen much innovation in a long while. With the simplest thought "How can one re-imagine B2B commerce with technology?" Rahul Garg, formerly Head of Advertising Exchange at Google Asia, founded a B2B E-Commerce Start-Up "Moglix".
Moglix - Online shop for Wide Range of B2B Products
Moglix, is an Asia-based E-Commerce company based out of Noida and headquartered in Singapore, inclined towards B2B procurement of procuring and supplying utility-based industrial products including MRO (manufacture, repair, and operating), Safety, Electricals, Lighting, Cleaning & Housekeeping, Office Stationary & Supplies, Power Tool.
Acquisition of Funds :
Moglix had raised over fund more than $ 102.2 million till date through 6 funding rounds. With the last Series-D funding round of $ 60 million in July 2019, it was led by Tiger Global and also participated by Sequoia India and Composite Capital. The Start-Up already had investors Accel Partners, Jungle Ventures, IFC, Venture Highway and Tata Sons’ Chairman Ratan Tata on its board.
The company is channelizing its funds to create industrial distribution centres across India to cover all 25+ major hubs for manufacturing by May 2020 with its tech-first strategies to further disrupt the supply chain and procurement domain across verticals in Indian market along with Asia.
Current Scenario :
Based in Noida, Moglix currently has 10 fulfilment centres across 8 Cities, including Mumbai, Pune, Ahmedabad, Delhi, Kolkata, Chennai, Aurangabad, and Pantnagar. It also claimed to have more than 2 lakh Stock Keeping Units (SKU) listed on its platform, serving some of the largest auto, electrical, and PSUs in the country.
Starting working with fewer brands, the Start-Up as-of-now have tie-up with more than 350 large manufacturing houses and over 1,50,000 SME Clients. It caters more than 4,50,000 industry essential products from 2,000 Suppliers to service more than 25,000 Pincodes across India.
In 2018, Moglix was recognized as the top most firm in Deloitte's technology fast 50 lists. And also won the 11th edition of SAP ACE Awards 2018 in Sourcing Excellence category.
The Future Ahead :
Founder & CEO, Rahul Garg said, "It is great to see how Moglix is on a major upsurge, growing at a rate of 300 percent year on year with an exuberant team”
Moglix in order to cater the growing demands of Indian mobile audience soon going to lauch its mobile application to attract a new customer base.
The commitment of Moglix towards its vision can be sensed at by seeing it’s actively engagement in reducing the supply gap chain for Personal Protective Equipments (PPEs) in more than 20 countries across the globe, making them available to more than five million people, amidst Covid-19 lockdown.
Conclusion :
Until recently, for many of us, E-Commerce revolved much around Amazon and Flipkart catering B2C and end-consumer oriented marketplace. Now, B2B and Industrial Market Segment is also being targeted for pushing it upon technology-equipped platform.
Moglix, now being one of the most trusted online B2B marketplace, strongly believes that the unorganized supply chain in India can only be solved with a technology-first mind-set.