Moglix, a Ratan Tata-backed B2B e-commerceplatform, on Thursday announced its expansion to Ahmedabad and Mumbai to cater to the market of Western and Southern India. Currently, Moglix is headquartered in Singapore and is present in Noida, Gurgaon, Chennai and Pune. With these new additions, Moglix is further stepping-up their presence catering to industrial hubs in India, in line with their vision to transform the supply chain of the Indian manufacturing sector, founder Rahul Garg said.
Earlier in July, Moglix raised Series B round of funding of USD 12 mn from International Finance Corporation (IFC), a member of the World Bank Group, Rocketship vc., and existing investors Accel Partners, Jungle Ventures and Venture Highway, and had mentioned expansion as one of the key drivers for business growth.
Moglix’s solutions cater to more than one lakh small and medium-sized enterprises (SMEs), and more than 250 large manufacturing houses in India. Moglix currently has more than three lakh stock keeping units (SKUs) listed on its platform and serves some of the largest auto, electrical and integrated manufacturing enterprises in the country including Lumax, IndiaForge, Havells, Vedanta, etc. With the recent reforms of GST implementation and move towards a cashless economy, Moglix is well-poised to cater to more customers in the near future.
With the roll-out of GST, Moglix has also launched GreenGST, a unique SAAS-based solution for the manufacturing sector that will make the entire customer ecosystem GST compliant and future-ready, marking another milestone towards its commitment to the space, the company said.
“Our primary objective has always been to digitise and simplify the supply chain in the sector we operate in conjunction with domain knowledge of the industry and create customer oriented organisation. Currently, Moglix operates out of 6 locations with its JIT (Just in Time) centers in India catering to the length and breadth of the country and has current employee strength of over 250 talented people. As of now, we are barely scratching a small percentage of the manufacturing industry and aspire to cover many more land and states by the turn of 2018. We want to expand our presence in Kolkata and Bangalore by March 2018 and focus on servicing the industrial clusters of automotive, steel, chemical and more, for better efficiencies for all.”
Founded in 2015, Moglix had previously raised Seed and Series A funding of USD 6 mn from venture capital firms like Accel Partners, Jungle Ventures, SeedPlus and Venture Highway. With Series B, the total amount of fund raised by Moglix stands at $18 million.