Moglix Able to Raise $60M in Series D Funding
Moglix, New Delh based B2B commerce company, Founder & CEO, Rahul Garg, closed a USD$60M Series D round of funding. The round was led by Tiger Global, Sequoia India and Composite Capital. Current investors include Accel Partners, Jungle Ventures, IFC, Venture Highway and Tata Sons’ Chairman Emeritus Ratan Tata.
The company intends to use the funds to accelerate expansion efforts by optimizing efficiencies in focus areas such as technology innovation, analytics, and building & owning a wide logistics infrastructure network.
Moglix is an online store focused on B2B procurement of industrial supplies, in particular, MRO, Safety, Electricals, Lighting, Cleaning & Housekeeping, Office Stationary & Supplies, Power Tools and many more industry essentials.
The company has a 450.000 product assortment of industry essential products, listed under 30+ categories, from 2,000 suppliers base across nation, serves 150,000 SME clients, in addition to 250+ Enterprises & Corporates and 25,000 pin codes serviceable across the country.