Moglix, an e-commerce company specialising in B2B procurement of industrial products, on Monday announced an undisclosed investment in the company by Ratan Tata.
Founded in August 2015 by Rahul Garg, a former Google employee, Moglix focuses on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe.
Moglix recently raised Pre-Series A funding from Accel Partners and Jungle Ventures. The funds are being used to enhance the technology platform, build a deep supplier base as well as increase marketing spends across Asia.
The company aspires on bringing technology and manufacturing together to drive transparency, efficiency and scale for manufacturing companies within India, making them globally competitive and enabling an efficient use of technology.
“We are extremely pleased to have an icon of Indian manufacturing as our advisor. Mr. Tata’s contribution to the manufacturing sector has been inspirational and we look forward to his guidance as we steer the company towards transforming the buying and selling process for manufacturers in the country”, said Rahul Garg