Moglix, a B2B e-commerce platform for manufacturing goods has joined the Unicorn Club in 2021. The company focuses on a fusion of tech with the manufacturing industry, to transform the existing supply chain into a powerful, digitally backed mobility solution.
Moglix- About The Company
Found in 2015 by Rahul Garg, Moglix is one of Asia’s biggest, fastest-growing supply chain startups that work across the fields of B2B e-commerce, enterprise procurement and industrial delivery solutions. These sectors are managed by multiple divisions, like Moglix, Moglix Business and Moglix SaaS. Moglix especially deals with B2B E-commerce and supply chain logistics.
Though Moglix is based out of Singapore, its parent company is Mogli Labs India Pvt Ltd. The firm also tackled digitization of the supply chain and is internationally active across over 23 locations in the US as well as Europe.
The Business Model
Moglix itself is the B2B E-Commerce section of the company. They provide easy and safe supply chain solutions for companies via digitally transforming their network to perform better than traditional logistics.
Moglix Business primarily deals with the supply of industrial manufacturing goods and solutions. Their predominant cargo includes “Class C spend” goods like MROs, packaging, office supplies and others to cloud-hosted contracting management applications.
Moglix SaaS, as the name indicates, provides Software-as-a-service. They empower clients with cloud-based solutions for procurement and supply chain management solutions. Using their services, corporations can utilize Data to optimize their procurement strategies and make their supply chains more efficient.
Moglix works with over half a million SMEs and over 3000 manufacturing plants across India, the UK, UAE and other locations to provide solutions and optimize their activities for maximum efficiency and profit. Corporations like Hero MotoCorp, Tata Steel, Unilever and many others also utilize their platform to procure manufacturing material. They also have a vast supply chain network spanning over 16,000 suppliers across 35 warehouses and 500,000 stock-keeping units.
Moglix- The Growth Curve
The supply chain was hit hard during the pandemic, with the entire world cut off each other. During this crisis, Moglix is looking to digitize its ecosystem and provide modernized solutions powered by technology for age-old problems. Rather than just find a way to profit for themselves, they are also looking to revolutionize the supply chain logistics industry itself.
The company looks to partner up with businesses across industry verticals as well as governments to bolster the current supply chain infrastructure with the infusion of disruptive technology. They also want to team up with OEMs to expand their services in all aspects, whether it be to new global territories or diversifying their product lines.
Moglix’s latest Series E funding round gained a $120 million investment, with the valuation cruising to $1 billion. The round was led by Falcon Edge Capital and Harvard Management Co., and previous backers like Tiger Global and Sequoia Capital India also took part. Not a surprising rise for a company backed by the legend Ratan Tata himself. The company has the dream of changing the way the supply chain operates, and this massive investment would allow it to make that dream a reality, and be a major player in this new ecosystem.