About Moglix
Founder of Moglix
Rahul Garg is the founder and CEO of Moglix, an industrial products and equipment B2B e-commerce platform. He has substantial expertise in the technology business in strategy, product management, and operations. He presently possesses 16 US patents and has collaborated with a number of early-stage firms.
He has an MBA from the Indian School of Business with a marketing focus and a bachelor’s degree in electrical engineering from IIT Kanpur.
Early Days / Startup Journey of Moglix
Rahul Garg began his career in Bengaluru with Ittiam Systems, where he obtained skills in sectors such as wireless LAN and digital signal processing, as well as how to design world-class products. He was also the Head of Advertising and Strategy at Google Asia, where he built a $100 million+ advertising exchange business from the ground up.
Rahul established Moglix in 2015 after noticing the enormous potential in India’s industrial industry and the absence of technology within it. The company is in the business of marketing industrial products, namely MRO, Safety, Electrical & Lighting, Cleaning & Laundry Supplies, Office Supplies, Tools, and a variety of other industry necessities.
Moglix joined the Unicorn Club in May 2021 after obtaining $120 million in Series E round fundraising, which increased the company’s worth to more than $1 billion.
Business Model
The startup has the largest e-catalogue of industrial goods in the MRO and packaging sectors in India, allowing customers to order with ease. They have strategically collaborated with 10,000+ suppliers across 45+ categories, providing them with industrial-scale capabilities throughout the supply chain’s upstream.
Moglix Business offers AI-enabled B2B supply chain products such as the Buyer’s Terminal to customers and the Vendor’s Portal to OEMs, allowing organizations to streamline their procurement process through a technology-driven platform.
It serves 500+ business clients and over 500,000+ MSMEs in industries such as automotive, cement, chemical, consumer durables, FMCG, metals & mining, oil & gas, and pharmaceuticals. GSK, Havells, Yamaha, Lumax, and Tata Chemicals are among the industry leaders that purchase MRO goods from them. The firm claims that its clients may save up to 15% on overall procurement costs.
Also Read: Delhivery – Startup Story, Business Model, Revenue, Growth & Funding
Funding of Moglix
Moglix has secured $471.2 million in funding from top-tier venture investors and corporate leaders in the technology and supply chain domains. Moglix is worth $2.6 billion as of January 2022.
Moglix secured $250 million in a round led by Tiger Global, Alpha Wave, and Hong Kong-based Ward Ferry, which joined the company as a new investor in January 2022. That is more than quadruple Moglix’s current worth of $2-2.5 billion. On January 28, 2022, Moglix successfully raised this round.
Moglix Funding and Investors Details are as follows –
| Date | Stage | Amount | Investors |
|---|---|---|---|
| January 28, 2022 | Series F | $250 mn | Tiger Global, Alpha Wave Global and Ward Ferry |
| May 17, 2021 | Series E | $120 million | Falcon Edge, Harvard Management Company |
| July 11, 2019 | Series D | $60 million | Kalyan Krishnamurthy, Tiger Global, Sequoia, and Composite Capital |
| May 11, 2019 | Series C | $26 million | Accel US, IFC |
| July 6, 2017 | Series B | $12 million | International Finance Corporation |
| October 4, 2016 | Series A | $3.76 million | Accel |
| February 8, 2016 | Seed Round | – | Ratan Tata |
| October 30, 2015 | Seed Capital | $1.5 million | Accel Partners, Seedplus & Ratan Tata |
The funding would be used to build a network of industrial distribution centers and warehouses across India, covering all 25+ key manufacturing hubs, in line with the government’s vision and industrial policy to establish a National Investment and Manufacturing Zone under the Make in India program. It is investing in technology-first methods to further disrupt the supply chain and procurement sector across verticals, bringing touchless, frictionless indirect procurement to the Indian market.
Growth of Moglix
The firm is focusing on the $1 trillion+ market for business and industrial goods. Electricals, lights, hardware, and tools are examples of engineering products. Since its soft debut on August 15, the firm has signed up over 200 companies. Havells, Larsen and Toubro, C&S Electric, Anchor, Bajaj, Unbrako, Caparo, Ambika, and Taparia are among them.
It distributes to over 10,000 serviceable pin codes across India. To fulfill its delivery requests, the business has teamed with Delhivery and Blue Dart.
The Asian industrial goods market is expanding rapidly. Engineering items account for 24% of Indian exports worth $300 billion or more.
Moglix intends to capitalize on the government’s Make in India and Digital India efforts, which are boosting industrial growth in India. As a result, this market has been a key priority area for Make in India programs. While buyers are progressively shifting online, a major portion of this transaction remains offline and occurs through traditional B2B channels.
Future Plans
