moglix

Moglix, an India-Singapore based marketplace for business and industrial supplies, has raised pre Series A funding of around $1.5 million from Accel Partner and Singapore-based Jungle Ventures.

The startup will use the freshly raised funds to enhance the technology platform, build a deep merchant base across Asia and global marketing efforts to rope in consumers.

Founded in 2015 by Rahul Garg, a former Google employee with experience in building global products and running sales across Asia, Moglix aims to become the online-first sales and marketing engine for Asian brands to sell into over 100 countries globally.

Currently on Moglix platform, a wide assortment of genuine industrial goods and products from top global and Indian brands are available for the customers across India. Moglix team procures these products efficiently and claims that all the products are 100% genuine.

The startup is headquartered in Singapore with its operating office in Noida, India.

Some of the companies that already sell their products via Moglix include Havell's, Larsen and Toubro, C&S Electric, Anchor, Bajaj, Unbrako, Caparo, Ambika and Taparia.

Subrata Mitra, Managing Partner of Accel Partners said, "Accel has always believed in disruptive startups looking 3-5 years ahead where we think technology can make an impact. We see x-border e-commerce as a great trend - where technology can make a big impact. We believe Moglix, with a strong team is solving a valuable and tough problem."

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.

Rahul Garg, CEO & Co-Founder of Moglix, said, "The industrial products market from Asia is growing at a rapid pace. Engineering goods contribute 24 per cent of the Indian exports worth $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."

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