Founded in 2015 by Rahul Garg who left his job at Google to start off on his own, Moglix is the IoT of the industrial tools procurement business. Moglix has developed a website where mechanical operation tools, electrical drillers, air blowers and power toolkits used in bulk numbers in manufacturing, construction, and factories can be purchased online.
Here we present to you 7 facts about the company that is making waves in the B2b e-commerce sector, which is the latest startup funded by Ratan Tata.
Moglix specializes in technology-driven delivery of hardware equipment
The startup is developing a website where any construction engineer or contractor can order for building and construction equipment, sewage repair equipment, or electrical devices.
Moglix aims to provide the brick and mortar requirements for any new building to be setup right from the start. You can find floor cleaning supplies, office maintenance supplies as well as hospital supplies at Moglix.com. So whatever requirement you have at a commercial workplace, Moglix is ready with all the supporting equipment.
Moglix believes in creating an open platform for the procurement industry
One of the biggest challenges the procurement industry (or supply chain industry) faces is supplier-related issues. Purchasing managers face problems in finding suppliers and equipment and relaying them with contractors at square prices without transportation issues. One of the goals of Moglix is to end all these struggles and ensure safe and timely delivery of equipment.
Purchasing managers face problems in finding suppliers and equipment and relaying them with contractors at square prices without transportation issues. One of the goals of Moglix is to end all these struggles and ensure safe and timely delivery of equipment.
Moglix has received funding from Accel Partners, Jungle Ventures and SeedPlus
After starting off as a B2b e-commerce company in 2015, it secured $1.5 Million as seed funds from Jungle Ventures, Singapore and Accel Partners, USA.
It has established its headquarters in Singapore after receiving the seed funds and also developed its website and a network of manufacturing suppliers within a year of its funding. As part of Series A funding, Moglix has raised Rs. 28 crore from Jungle Ventures, Accel Partners, and SeedPlus.
Ratan Tata has invested an undisclosed amount on Moglix
The greatest moment for the startup came by in October 2016 when Tata Sons Chairman Emeritus, Ratan Tata invested an undisclosed amount as an angel investor.
This is the first manufacturing tech startup in which he made an investment and he followed it with becoming the senior advisory panelist of Moglix.
Moglix founder, Rahul Garg is an alumnus of IIT-KGP
Moglix was founded by Rahul Garg, an Electrical Engineer from IIT- Kharagpur and worked at Google as the Asia Head of Ads and Strategy. He stated that having experience in Asian markets has enabled the company to form supplier networks with Chinese and Taiwanese manufacturers and suppliers.
The Moglix founder has partnered with PitStop, VenueLook, Mobikon, CatchThatBus, Tookitaki, GoVoyagein and 1click.io as an investor at either seed-funding or Series A funding stages.
Moglix founder, Rahul Garg, claims that the ‘StartUp India’ and ‘Digital India’ initiatives benefited his B2b enterprise
As a techie himself, he claims that there’s immense growth opportunity in India with the impact of technology on the country’s manufacturing units. Government initiatives such as ‘Make In India’, ‘Digital India’ and ‘Startup India’ propelled organic growth for Moglix in 2015-16.
Now, with a projection of getting 1000 manufacturing suppliers into their system and over 20,000 SME buyers, it looks to scale up the operations manifold.
Moglix has an incubator-mentor relationship with SAP
SAP launched its Startup Studio at Benguluru where it provides nascent stage support for tech-based startups. As a leader in enterprise resource planning, it provides technical platforms to Indian startups, Moglix being one of their key spin-offs.
If you are a dealer in hardware, you can check out all the categories of hardware tools and equipment that you can buy at wholesale rates and also get exclusive offers for them when you order them on Moglix.com via CashKaro.