Rahul Garg established Moglix, an e-commerce firm for B2B platforms, in 2015. In May 2021, the firm became a unicorn after raising $120 million in a fundraising round.
Moglix is a B2B E-commerce firm established in Singapore that sells industrial items. It provides manufactured items in a variety of areas via its e-commerce platform.
Founder of Moglix, Rahul Garg, says, he launched the company to provide the B2B world with the same level of convenience, supply chain efficiency, technology, that is found in the consumer world.
Moglix has expanded into several areas of the supply chain business since it was founded in 2015. There are two types of solutions: business procurement solutions and contract management solutions.
Moglix is India’s largest e-commerce site for manufactured goods, with 700,000 stock-keeping units and 40 warehouses.
It provides industrial items to over 500,000 small and medium-sized businesses and has its own logistical infrastructure.
It also assists over 1000 multinational firms in India and the UAE with supply chain management. Credlix, Moglix’s digital supply chain finance platform, was also just introduced.
Rahul Garg graduated from the Indian School of Business in Hyderabad with an MBA in Marketing. He graduated from IIT Kanpur with a bachelor’s degree in electrical engineering.
He specialized in product management, strategy, and operations in the technical business. Rahul Garg additionally possesses 16 US patents in product management and technology. Garg has understanding of potential and problems in the manufacturing business because he was raised in Faridabad, which is one of the country’s key industrial areas.
In addition, as the head of advertising and strategy at Google Asia, he had the opportunity to investigate how businesses enable new prospects.
As a result, he intended to tackle corporate challenges by incorporating technology into the supply chain management arena. That is how moglix was created.
The B2B supply chain was crucial to Moglix’s business strategy. It established a new technology-driven ecosystem that includes both manufacturing suppliers and customers.
As a result, it solves the supply chain management issues that businesses encounter. Moglix integrates digital processes into supply chain management and guarantees on-time delivery.
Customers benefit from a consistent experience because the firm is constantly developing its warehouses and diverse industrial items.
Moglix secured $120 million in an E-a series investment round and will be included to India’s unicorn list in May 2021.
Moglix secured $250 million in funding in its F series round on January 28, 2022. Tiger Global, Alpha Wave Global, and Hong Kong’s new investor, Ward Ferry, all contributed to this investment.
Apart from Tiger Global and Alpha Wave Global, the key investors in moglix were industry veterans Accel Partners, International Finance Corporation, Sequoia, and Havard Management Company. Ratan Tata, the chairman of Tata Sons, also invested in the moglix in 2016. Early-stage moglix investors received an 80x return on investment.
Moglix’s revenue from product sales is 767.1 cr INR, while its revenue from service sales is 8.84 cr INR as of the fiscal year 2022.
Plans for the future
The moglix’s plans are as follows:
1. To carve out a technologically-driven niche in the supply chain network across many locations.
2. Moglix intended to expand its activities with significant footprints in the United Kingdom, Europe, and Southeast Asia.
3. Collaborate with developing and mature economies to boost the local manufacturer sector across the world.
4. It collaborates closely with OEMs to develop a worldwide delivery strategy.
As a result, Moglix is focusing on injecting technology-driven space in the supply chain network across various locations, which helps both corporations and manufacturers.