As the government strives to push manufacturing through its ‘Make In India’ and ‘Digital India’ campaigns, digital procurement of goods has emerged as a hassle-free option for manufacturing units. However, many Indian manufacturers continue to use traditional methods for procurement of goods, scouting across the country looking for reliable and cost-efficent suppliers.
Seeing this as a unique opportunity, in 2015, Moglix, a Singapore-headquartered tech start-up, launched a SaaS (software as a service) based platform for procurement of goods. The platform combines online convenience with supply-chain efficiencies, thus ensuring that buyers are able to access industrial goods at optimal prices.
“Stakeholders in the manufacturing industry are ignoring the potential of digital procurement transactions. Small and medium sized enterprises that contribute 37% of India’s GDP is unable to afford solutions like SAP for their business,” says Rahul Garg, CEO and founder, Moglix. “This is where Moglix steps in by providing affordable procurement solutions to MSMEs that are efficient and 100% digital.”
Moglix offers an assortment of industrial products procured from leading global and Indian brands. The products include MROs (maintenance, repair and overhaul), fasteners, electrical, hardware, pneumatics, safety items, etc. that are offered through a digital platform. It houses about 28-plus categories of industrial products on its website.
With businesses in over 19 countries across the globe, Moglix caters to more than 50,000 small and medium-sized enterprises (SMEs), and over 200 plus large manufacturing houses in India, China and some other parts of Asia. It serves institutional customers (B2B) as well as individual customers (B2C). The start-up, which has three warehouses across Delhi-NCR and Pune, plans to to set up three more warehouses as it aims to expand its services across the country this year.
It recently announced plans to develop a tech-infrastructure capability to extend specialised services to GST Suvidha Providers (GSP) with a view to enable companies smoothly undertake the rollout of GST regime. Moglix currently employs about 200 people and has raised funding of Rs 38 crore from Jungle Ventures and Accel Partners.