Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus
Leading B2B e-commerce company Moglix specializing in procurement of industrial products has announced that it has raised Rs. 28 crore in Series A round of funding led by Accel Partners with participation from Jungle Ventures and SeedPlus.
Founded in August 2015, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe. Moglix has raised Pre-Series A funding from Accel Partners and Jungle Ventures in October 2015 and an undisclosed financial investment in the company by Ratan Tata in February 2016.
Moglix caters to over 20,000+ SME buyers and 100+ large manufacturing houses through their platform. The funds will be deployed to expand operational footprint across major industrial hubs, increase the SME customer base by...