Moglix

Last updated
Moglix
Type Private
Industry B2B eCommerce
Founded2015, Singapore
FounderRahul Garg (Founder & CEO)
Headquarters Singapore
Area served
India, Singapore, the UK, the UAE, and the US
Number of employees
1300+
Website business.moglix.com

Moglix is an Indian e-commerce company headquartered in Singapore, established in 2015. [1] It operates in India, the USA, the UK, and Europe. As of January 2022, Moglix had a valuation of $2.6 billion [2] [3] and once claimed to be the largest e-commerce company in the industrial goods category in India. [4] The company is owned and operated by Mogli Labs. [5]

Contents

History

Moglix was founded in 2015 by Rahul Garg, a former Google executive and an alumnus of IIT Kanpur and ISB. [6] The company began its operations in August 2015 and received initial funding from Ratan Tata and Accel Partners in October 2015. [4] Initially, Moglix focused on B2B e-commerce before expanding into enterprise procurement and SaaS verticals. In December 2016, Moglix launched Green GST, a SaaS-based platform for manufacturing sector GST processes, [7] and became part of the SAP Startup Studio, an accelerator program by SAP Labs India. [8]

In 2017, Moglix secured Series B funding from the International Finance Corporation and expanded operations to new cities, including Delhi and Noida. It also launched a subsidiary called Zoglix in the US. Moglix’s board of advisors includes Tata Group chairman Ratan Tata and Sailesh Rao, former vice president of Twitter. In August 2017, Jeff Epstein, operating partner at Bessemer Venture Partners joined the board of advisors. [8]

By 2020, Moglix had presence in 35 cities in India, including Goa and Guwahati. [9] [10]

In 2020, the company established partnerships with government agencies and enterprises in the United Kingdom for PPE supply. [10] In 2021, Moglix launched Credlix for supply chain financing and acquired Singapore-based EXIM fintech company NuPhi. [2]

In 2022, Moglix expanded its operations to Khalifa Port Free Trade Zone (KIZAD) in Abu Dhabi. [2] During the same year, the company invested around $5 million in EV manufacturing company Euler motors. [11] Additionally, in 2022, Moglix launched a subsidiary company called Zoglix with the aim of expanding its presence in the US market. [12]

In 2023, Moglix announced that it operates 3,000 manufacturing plants and 40 warehouses across India, Singapore, the UK, and the UAE. [13] In 2023 Moglix laid off 40 employees, which is 3% of its total staff. [14]

Acquisitions

In July 2020, Moglix acquired used machinery ecommerce platform Vendaxo in July 2021 for an undisclosed amount. [5]

In November 2021, Credlix, a subsidiary of Moglix, acquired Singapore-based EXIM fintech company NuPhi. [2]

In October 2022, Moglix acquired global security and surveillance distribution company’s Indian arm – ADI. [13] [15]

Related Research Articles

<span class="mw-page-title-main">Ratan Tata</span> Indian industrialist (born 1938)

Ratan Naval Tata is an Indian industrialist, philanthropist and former chairman of Tata Sons. He was a chairman of the Tata Group from 1990 to 2012, and interim chairman from October 2016 through February 2017. He continues to head its charitable trusts. In 2008, he received the Padma Vibhushan, the second highest civilian honour in India, after receiving the Padma Bhushan, the third highest civilian honour in 2000.

Droom Technology Limited is an Indian company that maintains an online marketplace for buying and selling used and new automobiles. Founded in April 2014, the company is based in Gurugram, Haryana and also operates in Singapore, Thailand, and Malaysia, besides 1,161 Indian town and cities. In July 2021, Droom became Unicorn after raising $200 Mn in a pre-IPO funding round at a valuation of $1.2 billion.

<span class="mw-page-title-main">Economy of Gujarat</span>

The economy of Gujarat, a state in Western India, has significant agricultural as well as industrial production within India. Major agricultural produce of the state includes cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2015, with 1.2% of the labour force being unemployed.

<span class="mw-page-title-main">Reliance Retail</span> Indian retail company

Reliance Retail is an Indian retail company and a subsidiary of Reliance Industries. Founded in 2006, it is the largest retailer in India in terms of revenue. Its retail outlets offer foods, groceries, apparel, footwear, toys, home improvement products, electronic goods, and farm implements and inputs. As of 2023, it has over 245,000 employees at 18,000 store locations in 7,000 towns. Apart from physical stores, the company also sells products on its e-commerce channels.

Zomato is an Indian multinational restaurant aggregator and food delivery company. It was founded by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato provides information, menus and user-reviews of restaurants as well as food delivery options from partner restaurants in more than 1,000 Indian cities and towns, as of 2022–23. Zomato rivals Swiggy in food delivery and hyperlocal space.

<span class="mw-page-title-main">Tata Starbucks</span> Joint venture company

Tata Starbucks Private Limited, formerly known as Tata Starbucks Limited, is a 50:50 joint venture coffee company, owned by Tata Consumer Products and Starbucks Corporation, that owns and operates Starbucks outlets in India.

<span class="mw-page-title-main">MakeMyTrip</span> Indian online travel company

MakeMyTrip is an Indian online travel company founded in 2000. Headquartered in Gurugram, Haryana, the company provides online travel services including airline tickets, domestic and international holiday packages, hotel reservations, rail, and bus tickets. As of June 2023, the company has 146 active franchisees operating in over 100 cities. MakeMyTrip also has international offices located in New York, Singapore, Kuala Lumpur, Phuket, Bangkok, Dubai, and Istanbul.

<span class="mw-page-title-main">Urban Ladder</span> Furniture retailer

Urban Ladder is an omnichannel furniture and decor retailer started in 2012 and headquartered in Bangalore, India. The company, founded by Ashish Goel and Rajiv Srivatsa, provides curated furniture products and home decor solutions. Urban Ladder operates across 50 offline stores in India, including Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad, and Chennai and continues to service other locations through its e-commerce website.

<span class="mw-page-title-main">Paytm</span> Indian financial technology company

Paytm is an Indian multinational financial technology company, that specializes in digital payments and financial services, based in Noida. It was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. The company offers mobile payment services to consumers and enables merchants to receive payments through its QR code, Payment Soundbox, Android based-point of sale machine and online payment gateway offerings. In partnership with financial institutions, Paytm offers financial services such as microloans and buy now, pay later to its consumers and merchants. Apart from bill payments and money transfer, the company also provides ticketing services, retail brokerage products and online games.

BillDesk is an Indian online payment gateway company based in Mumbai. The company provides an online payment platform for its clients which enables banking and merchant website transactions.

<span class="mw-page-title-main">Pratilipi</span> Indian self-publishing portal

Pratilipi is an Indian online self-publishing and audiobook portal headquartered in Bangalore. Founded in 2014, The company allows users to publish and read original works such as stories, poetry, essays, and articles in twelve languages: Hindi, Urdu, English, Gujarati, Bengali, Marathi, Malayalam, Tamil, Kannada, Telugu, Punjabi and Odia. The company also launched two other storytelling platforms- Pratilipi Comics & Pratilipi FM and has also forayed into different formats such as web series, motion series, podcasts, and films.

<span class="mw-page-title-main">PayU</span> Fintech company that provides payment solutions to online merchants.

PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018, the service is available in 17 countries. The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent.

Nium is a Singapore-headquartered cross-border payments company. Initially founded by Prajit Nanu and Michael Bermingham, and launched as consumer-remittance platform Instarem in 2014. In 2016, the company introduced its B2B payments platform and rebranded as Nium in 2019, subsequently elevating Pratik Gandhi to co-founder in 2021.

Lybrate is a mobile healthcare technology company that developed an online platform to connect doctors and patients. The company was founded in 2013 and is headquartered in Delhi, India. The service allows patients to connect with the doctor online through a video call or schedule an appointment and can get info about medication.

Founded in 1998, Pine Labs is an Indian company that provides financing and retail transaction technology. It is a unicorn startup, with a valuation of over US$5 billion.

Lenskart is an Indian multinational optical prescription eyewear retail chain, based in Gurugram. As of March 2023, Lenskart has more than 2,000 retail stores, three-fourths of which are in India. Its manufacturing facility in New Delhi manufactures 3 lakh glasses a month. Lenskart is building an automated factory in Bhiwadi, Rajasthan, with an annual production capacity of 5 crore glasses.

Tata 1mg, previously 1mg, is a healthcare platform based in Gurugram, India. It provides services, including e-pharmacy, diagnostics, e-consultation, and health content. It was founded in April 2015 by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan.

<span class="mw-page-title-main">Ola Electric</span> Electric motor scooter manufacturer India

Ola Electric Mobility is an Indian electric two-wheeler manufacturer, based in Bengaluru, Karnataka, India. It is India's largest electric two-wheeler manufacturer valued around US$5.4 billion as of September 2023. It has a manufacturing facility located in Krishnagiri, Tamil Nadu which is India's largest two-wheeler EV manufacturing factory.

A super-app is a mobile or web application that can provide multiple services including payment and financial transaction processing, effectively becoming an all-encompassing self-contained commerce and communication online platform that embraces many aspects of personal and commercial life. Notable examples of super-apps include Alipay, Tencent's WeChat in China, Tata Neu in India and Grab in Southeast Asia.

Battery Smart is an EV battery-swapping company headquartered in Gurugram, Haryana.

References

  1. ↑ Balachandran, Manu. "Moglix: How Rahul Garg Built An Unexpected Unicorn". Forbes India. Retrieved 2023-09-20.
  2. 1 2 3 4 "Mogli(x) is ready for a higher leap". businessindia.co. Retrieved 2023-09-20.
  3. ↑ "Moglix valuation doubles to $2.6 billion in less than a year". Moneycontrol. 2022-01-28. Retrieved 2023-09-20.
  4. 1 2 "Can An Industrial Goods Platform Be Unicorn? It Takes Rahul Garg's Toolkit". Forbes India. Retrieved 2023-09-20.
  5. 1 2 Sil, Debarghya (2023-01-06). "Moglix's Revenue Jumps 3X YoY To $307 Mn In FY22, Loss Widens To $22 Mn". Inc42 Media. Retrieved 2023-09-20.
  6. ↑ Arakali, Harichandan. "How Valuable Companies Are Driving Change With Innovative Approach". Forbes India. Retrieved 2023-09-20.
  7. ↑ "The 1-3-6 learning framework - Livemint". 2018-06-17. Archived from the original on 2018-06-17. Retrieved 2023-09-20.
  8. 1 2 "Jeff Epstein joins Moglix Board of Advisors". The Times of India. 2017-08-23. ISSN   0971-8257 . Retrieved 2023-09-22.
  9. ↑ "Watch: Moglix CEO Rahul Garg on new frontiers, acquisitions". Techcircle. 2020-11-17. Retrieved 2023-09-22.
  10. 1 2 "Moglix expands in India, sets up supply chain in Assam, Goa". The Economic Times. 2020-11-10. ISSN   0013-0389 . Retrieved 2023-09-22.
  11. ↑ Kaur, Jaspreet (2022-04-18). "Euler Motors Raises $5 Mn From Moglix; Valuation Soars To $70 Mn". Inc42 Media. Retrieved 2023-09-22.
  12. ↑ "Rahul Garg left Google to transform manufacturing supply chain". The Times of India. 2023-02-17. ISSN   0971-8257.
  13. 1 2 Roy, Shubhobrota Dev (2022-10-11). "Moglix acquires ADI's Indian distribution unit for industrial goods". mint.
  14. ↑ "Moglix lays off up to 3% workforce". VCCircle. Retrieved 2023-09-28.
  15. ↑ "'Want to take Indian manufacturing supply chain capabilities to World'". The Times of India. 2022-10-31. ISSN   0971-8257 . Retrieved 2023-09-22.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.