Reinventing B2B Commerce Space
Moglix is an ecommerce company intensively inclined towards B2B procurement of industrial supplies, in particular MRO, safety, electricals, lighting, cleaning and housekeeping, office stationary and supplies, power tools and many more industry essentials. It claims to be Asia's largest and fastest-growing B2B supply chain company that started in 2015.
Moglix built an operating system for manufacturing that provides its customers with a full stack service covering procurement, packaging, supply chain financing and highly integrated software.
Talking about the spectrum Moglix covers, Founder and CEO, Rahul Garg said: “Today, we serve 5 million MSMEs and over 1,000 global enterprises to digitise their procurement and supply chain at more than 3,000 plants across auto, pharma, chemical, infrastructure, metals and mining, oil and gas, FMCG and many more sectors.”
The Transformational Curve
What is fuelling the growth? According to Garg, the manufacturing sector will continue to remain at the forefront of technology adoption in India. Not only will it contribute significantly to the economy but also holds strategic importance from the perspective of employment generation in 2022, he adds. “We are also seeing new business gains, sustained improvements in demand along with a notable uptick in the growth of new exports and domestic orders,” says Garg.
Moglix makes its platform robust by way of new additions. Its valuation turned more than double as it touched $2.6 billion after Series F funding around the end of January this year when it raised a further $250 million (a total of $470 million has been raised since its inception).
In line with keeping pace with the speed of transformations, Garg says, “In the digital world we live in, we need to find a way for India’s manufacturing capabilities to get discovered. We need to keep our eyes open for new opportunities and never stop creating while giving back to society.”
The most important part of his career has been the process of learning, unlearning and relearning that has been honed through the three different technologies. As an entrepreneur, his focus continues to remain on first principles thinking, how to define the market and success criteria.
The Next Steps
On the expansion front, Garg says: “We are focused on our mission to enable creation of a $1 Trillion manufacturing ecosystem in India. We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing.”
On being a Unicorn, Garg says: “We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector and a mission to enable the creation of a $1 trillion manufacturing economy in India. Becoming a unicorn is a financing milestone in our journey of innovation and disruption.”
