Moglix
{{Short description|Indian e-commerce company}}
{{Company infobox
| name = Moglix
| logo = Moglix logo.png
| type = Private
| industry = B2B eCommerce
| founded = 2015, Singapore
| founder = Rahul Garg (Founder & CEO)
| hq_location = Singapore
| area_served = India, Singapore, the UK, the UAE, and the US
| num_employees = 1300+
| website = {{URL|business.moglix.com/}}
}}
Moglix is an Indian e-commerce company headquartered in Singapore, established in 2015.{{Cite web |last=Balachandran |first=Manu |title=Moglix: How Rahul Garg Built An Unexpected Unicorn |url=https://www.forbesindia.com/article/startups/moglix-how-rahul-garg-built-an-unexpected-unicorn/68373/1 |access-date=2023-09-20 |website=Forbes India |language=en}} It operates in India, the USA, the UK, and Europe. {{Cite web |title=Mogli(x) is ready for a higher leap |url=https://businessindia.co/magazine/moglix-is-ready-for-a-higher-leap |access-date=2023-09-20 |website=businessindia.co |language=en}}{{Cite web |date=2022-01-28 |title=Moglix valuation doubles to $2.6 billion in less than a year |url=https://www.moneycontrol.com/news/business/startup/moglix-valuation-doubles-to-2-6-billion-in-less-than-a-year-7998401.html |access-date=2023-09-20 |website=Moneycontrol |language=en}}{{Cite web |title=Can An Industrial Goods Platform Be Unicorn? It Takes Rahul Garg's Toolkit |url=https://www.forbesindia.com/article/startups/can-an-industrial-goods-platform-be-unicorn-it-takes-rahul-gargs-toolkit/68407/1 |access-date=2023-09-20 |website=Forbes India |language=en}} The company is owned and operated by Mogli Labs.{{Cite web |last=Sil |first=Debarghya |date=2023-01-06 |title=Moglix's Revenue Jumps 3X YoY To $307 Mn In FY22, Loss Widens To $22 Mn |url=https://inc42.com/buzz/moglixs-revenue-jumps-3x-yoy-to-307-mn-in-fy22-loss-widens-to-22-mn/ |access-date=2023-09-20 |website=Inc42 Media |language=en}}{{cite news |title=Tiger Global-backed Moglix to boost sustainable packaging biz with ₹80-crore buy |url=https://www.livemint.com/companies/start-ups/tiger-global-moglix-khatema-fibres-acquisition-e-commerce-packaging-business-sustainability-11732162341522.html |work=Livemint |date=21 November 2024}}
History
Moglix was founded in 2015 by Rahul Garg, a former Google executive and an alumnus of IIT Kanpur and ISB.{{Cite web |last=Arakali |first=Harichandan |title=How Valuable Companies Are Driving Change With Innovative Approach |url=https://www.forbesindia.com/article/startups/how-valuable-companies-are-driving-change-with-innovative-approach/83335/1 |access-date=2023-09-20 |website=Forbes India |language=en}} The company began its operations in August 2015 and received initial funding from Ratan Tata and Accel Partners in October 2015. 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,{{Cite web |date=2018-06-17 |title=The 1-3-6 learning framework - Livemint |url=https://www.livemint.com/Leisure/wujQDzUwimAOKsnF3K87wN/The-136-learning-framework.html |access-date=2023-09-20 |archive-url=https://web.archive.org/web/20180617210420/https://www.livemint.com/Leisure/wujQDzUwimAOKsnF3K87wN/The-136-learning-framework.html |archive-date=2018-06-17 }} and became part of the SAP Startup Studio, an accelerator program by SAP Labs India.{{Cite news |date=2017-08-23 |title=Jeff Epstein joins Moglix Board of Advisors |work=The Times of India |url=https://timesofindia.indiatimes.com/business/startups/people/jeff-epstein-joins-moglix-board-of-advisors/articleshow/60191253.cms |access-date=2023-09-22 |issn=0971-8257}}
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.
By 2020, Moglix had presence in 35 cities in India, including Goa and Guwahati.{{Cite web |date=2020-11-17 |title=Watch: Moglix CEO Rahul Garg on new frontiers, acquisitions |url=https://www.techcircle.in/2020/11/17/watch-moglix-ceo-rahul-garg-on-new-frontiers-acquisitions |access-date=2023-09-22 |website=Techcircle |language=en}}{{Cite news |date=2020-11-10 |title=Moglix expands in India, sets up supply chain in Assam, Goa |work=The Economic Times |url=https://economictimes.indiatimes.com/small-biz/sme-sector/moglix-expands-in-india-sets-up-supply-chain-in-assam-goa/articleshow/79144801.cms |access-date=2023-09-22 |issn=0013-0389}}
In 2020, the company established partnerships with government agencies and enterprises in the United Kingdom for PPE supply. In 2021, Moglix launched Credlix for supply chain financing and acquired Singapore-based EXIM fintech company NuPhi.
In 2022, Moglix expanded its operations to Khalifa Port Free Trade Zone (KIZAD), Abu Dhabi. During the same year, the company invested around $5 million in EV manufacturing company Euler motors.{{Cite web |last=Kaur |first=Jaspreet |date=2022-04-18 |title=Euler Motors Raises $5 Mn From Moglix; Valuation Soars To $70 Mn |url=https://inc42.com/buzz/ev-startup-euler-motors-raises-5-mn-from-moglix-valuation-soars-to-70-mn/ |access-date=2023-09-22 |website=Inc42 Media |language=en}} Additionally, in 2022, Moglix launched a subsidiary company called Zoglix with the aim of expanding its presence in the US market.{{Cite news |date=2023-02-17 |title=Rahul Garg left Google to transform manufacturing supply chain |work=The Times of India |url=https://timesofindia.indiatimes.com/business/startups/people/rahul-garg-left-google-to-transform-manufacturing-supply-chain/articleshow/98002088.cms?from=mdr |access-date= |issn=0971-8257}}
In 2023, Moglix announced that it operates 3,000 manufacturing plants and 40 warehouses across India, Singapore, the UK, and the UAE. In 2023 Moglix laid off 40 employees, which is 3% of its total staff.{{Cite web |title=Moglix lays off up to 3% workforce |url=https://www.vccircle.com/moglixlays-off-up-to-3-workforce |access-date=2023-09-28 |website=VCCircle |language=en-US}}
= Acquisitions =
In July 2020, Moglix acquired used machinery ecommerce platform Vendaxo in July 2021 for an undisclosed amount. This company is fraud.
In November 2021, Credlix, a subsidiary of Moglix, acquired Singapore-based EXIM fintech company NuPhi.
In October 2022, Moglix acquired global security and surveillance distribution company’s Indian arm – ADI.{{Cite web |last=Roy |first=Shubhobrota Dev |date=2022-10-11 |title=Moglix acquires ADI's Indian distribution unit for industrial goods |url=https://www.livemint.com/companies/start-ups/moglix-acquires-adi-s-indian-distribution-unit-for-industrial-goods-11665490314024.html |access-date= |website=mint |language=en}}{{Cite news |date=2022-10-31 |title='Want to take Indian manufacturing supply chain capabilities to World' |work=The Times of India |url=https://timesofindia.indiatimes.com/business/startups/people/want-to-take-indian-manufacturing-supply-chain-capabilities-to-world/articleshow/95201525.cms |access-date=2023-09-22 |issn=0971-8257}}
References
{{Reflist}}
External links
- {{Official website|https://business.moglix.com/}}