Moglix’s existing investors include Accel Partners, Jungle Ventures, Venture Highway and International Finance Corporation, part of the World Bank Group, Shailesh Rao and InnoVen Capital
Moglix, a Ratan Tata-backed B2B industrial goods e-marketplace, announced on Monday that it has received investment from Flipkart CEO Kalyan Krishnamurthy in his personal capacity. The investment follows a Series C funding round that raised $23 million for Moglix in December.
Moglix has a team comprising over 450 people and currently operates across 12 centres in India, catering to both institutional customers (B2B) and individual customers (B2C) in the manufacturing sector. It currently focuses on the automotive, metals, mining, and fast-moving consumer durables (FMCD) markets.
Moglix’s existing investors include Accel Partners, Jungle Ventures, Venture Highway and International Finance Corporation (IFC), part of the World Bank Group, Shailesh Rao and InnoVen Capital. They participated in the company’s Series C funding round, raising $23 million to support Moglix in strengthening its B2B distribution network and supply chain across India and expanding into new market segments.
“I am happy to join the Moglix team as an investor in my personal capacity. Moglix, under Rahul’s leadership, has charted impressive growth in the B2B commerce space and is creating meaningful impact on the manufacturing industry through innovative use of technology. It is gratifying to be able to support this home-grown industrial B2B leader at this important juncture,” said Kalyan Krishnamurthy, CEO, Flipkart.