<div><strong>By Simar Singh</strong><br><br>Moglix, an India-Singapore based marketplace with a focus on business and industrial supplies announced a pre-Series A round of funding from Accel Partners and Singapore-based Jungle Ventures.</div><div> </div><div>The B2B marketplace says that it hopes to play a big role in simplifying and boosting global trade from Asia, via the internet, which is pegged at $1 trillion. The funds will be channeled to enhance the technology platform, build a deep merchant base across Asia and global marketing efforts to rope in consumers.</div><div> </div><div>Founded by Google alumnus Rahul Garg, Moglix functions as a sales and marketing engine for Asian brands to permeate globally. With a focus on engineering goods, the company did a soft launch on August 15 this year and has roped in over two hundred brands since. </div><div> </div><div>Companies that currently sell their products via Moglix include Havell’s, Larsen and Toubro, C&S Electric, Anchor, Bajaj, Unbrako, Caparo, Ambika and Taparia.</div><div> </div><div>Talking about the same, Garg said, “The industrial products market from Asia is growing at a rapid pace. Engineering goods contribute 24 per cent of the Indian exports worth over $300 billion. Hence, this market has also been a strong focus area for Make In India initiatives. A large part of this trade remains offline and happens via traditional B2B channels while the buyers are increasingly moving online. We believe we can play a significant role in bringing them together online.”</div><div> </div><div>Accel has been an active investor in the e-commerce space in India with a portfolio that includes Flipkart, Myntra, real estate portal CommonFloor and Swiggy.</div>
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