India: B2B marketplace Moglix raises $12m from IFC, Rocketship, others

By Ishita Russell

July 6, 2017

Moglilabs Pvt. Ltd, which runs industrial products marketplace Moglix, has raised $12 million in a funding round led by International Finance Corporation and joined by new investor Rocketship.vc.

The Noida-based company’s Series B round of funding also saw participation from existing investors Accel Partners, Jungle Ventures, former Google and Twitter vice president Shailesh Rao, and Venture Highway.

“The funds will be used to support the strong demand for Moglix’s robust technology solution in supply chain and manufacturing domain, infrastructure growth and geographical expansion plans,” the company said in a release. The company aims to launch operations in three more cities in India, apart from its current presence in Delhi-NCR, Pune and Chennai.

Ratan Tata-backed Moglix had previously raised seed and Series A funding totalling $6 million. Accel Partners led its $4.2-million Series A round in October last year, with Jungle Ventures and SeedPlus also participating.

Founded in August 2015 by Rahul Garg, Moglix is a global online B2B marketplace for enterprises to procure industrial products such as fasteners and industrial electricals. It has partnered with manufacturers and distributors across these categories in India, China and Taiwan for product supplies.

“The raise will accelerate our infrastructure build-up to better serve our customers, and enhance our product offerings as the manufacturing and supply chain industry heralds towards digitization,” said Garg.

Also Read:

India: Ratan Tata strikes sixth funding deal in 2016, places bets on online B2B marketplace Moglix

India: B2B marketplace Moglix raises $4.2m from Accel, Jungle Ventures, Seedplus

India Dealbook: Moglix raises $1.5m from Accel, LiftO gets angel funding

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW