Moglix, a Ratan Tata-backed leading B2B commerce company, has forayed into Eastern India, starting with Kolkata in West Bengal. Currently, Moglix is present across 6 locations viz Delhi/NCR, Chennai, Mumbai, Pune, Ahmedabad and Kolkata. The company has also added 2 new centres in Aurangabad, Maharashtra and in Pant Nagar, Uttarakhand. They will feed into the Western and Northern centres of the company. With Moglix further stepping-up their presence catering to manufacturing sector of India, the company has ambitious plans to increase its hiring by 30 percent across functions in FY 19. At present, Moglix has a strong team of over 350 people spread across geographies in India.
Kolkata houses many manufacturing units operated by large public and private-sector corporations; the city also has seamless access to North Eastern region and will aide the expansion of the company in the region. Today, Moglix’s solutions cater to more than 220 K small and medium-sized enterprises (SMEs), and more than 350 large manufacturing houses in India. Moglix currently has more than three lakh stock keeping units (SKUs) listed on its platform, one of the largest in India and serves 20,000+ pin codes in the country.
A recent report by SPO states that the Indian B2B market is currently worth $300 billion, and is estimated to grow to $700 billion by 2020. There are 4.8 crore SMEs that need to secure bulk supplies.
“The B2B commerce market has shown a rapid growth in India and across the world. We are excited to set our foot in Kolkata. Moglix has performed exceedingly well, we have ambitious expansion plans in Eastern India. We plan to set foot in five new locations across other parts of the country by 2019. We foresee that there is immense strength and scope of innovation in the B2B commerce space and the sectors we operate in. It is heartening to see how Moglix is on a major upsurge, growing at a rate of 300 percent year on year with an exuberant team. Our employee strength has grown phenomenally from 50 in 2015 to 350+ in 2018,” said founder and CEO of Moglix, Rahul Garg.
He further added, “As we grow, we are bullish about hiring fresh talent across tier 1 and tier 2 cities of India who are passionate to transform the manufacturing sector of India. India has seen massive growth in technology sector which we will leverage to achieve company’s mission and vision. We aim to be EBITDA positive in the next two years and make a USD 100 billion impact on the Indian economy. The hiring will take place mainly in the technology, sales and supply chain functions, while the rest of the jobs will be distributed across finance, marketing and HR functions in India. Moglix prefers to recruit high energy talent from premier engineering and management colleges like IITs, IIMs, ISB, MDI, XLRI, NITIE, NMIMS and for expanding their employee base this year.”
Within a span of three years, Moglix has set up a robust team that comprises of experts and leadership team from top institutions who bring in their wealth of knowledge from manufacturing and technology space to the organization. Some of the industry stalwarts in the advisory board of the company include Jeff Epstein, Ex-CFO of Oracle and Shailesh Rao, former Vice President of Twitter & Google. Moglix has a gender-neutral inclusive work culture with a focus on innovative work environment, strong mentorship program to groom the leaders of tomorrow and policies for fast track growth.
Source : https://spoindia.org/market-potential-of-b2b-ecommerce-companies-in-india/
Moglix is an Asia based B2B commerce marketplace that specializes in B2B procurement of industrial products such as MRO, fasteners, electrical, hardware, pneumatics, safety items and more. Its aim is to be the largest technology platform where demand and supply can be matched through price discovery and product availability.
Moglix was founded in April 2015 by Rahul Garg who was previously the Head of Advertising Exchange at Google Asia. Moglix is led by a group of young and motivated individuals passionate about shaping the manufacturing/B2B commerce landscape in India.
The total amount of funds raised by Moglix till date is approximately USD 18 million from International Financial Corporation (IFC), Accel Partners, Jungle Ventures, Venture Highway, SeedPlus and Rocketship.vc. The company is backed by Ratan Tata, Chairman Emeritus, Tata Sons as an investor. Moglix is a part of the first cohort of startups incubated by SAP Startup Studio and supported by Bernd Leukert, Member of the Executive Board, SAP.
For more information, visit https://www.moglix.com