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2023-10-01T21:01:54Z

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{{COI|date=October 2023}}
{{Company infobox
| name = Moglix
| logo =
| type = [[Public company|Public]]
| industry = B2B commerce
| 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.<ref>{{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}}</ref> It operates in India, the USA, the UK, and Europe. As of January 2022, Moglix had a valuation of $2.6 billion<ref name=":2">{{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}}</ref><ref>{{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}}</ref> and once claimed to be the largest e-commerce company in the industrial goods category in India.<ref name=":0">{{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}}</ref> The company is owned and operated by Mogli Labs.<ref name=":3">{{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}}</ref>

== History ==
Moglix was founded in 2015 by Rahul Garg, a former [[Google]] executive and an alumnus of [[IIT Kanpur]] and [[Indian School of Business|ISB]].<ref>{{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}}</ref> The company began its operations in August 2015 and received initial funding from [[Ratan Tata]] and [[Accel (company)|Accel Partners]] in October 2015.<ref name=":0" /> Initially, Moglix focused on [[B2B e-commerce]] before expanding into enterprise procurement and [[Software as a service|SaaS]] verticals. In December 2016, Moglix launched Green [[Goods and Services Tax (India)|GST]], a [[Software as a service|SaaS]]-based platform for manufacturing sector GST processes,<ref>{{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 }}</ref> and became part of the SAP Startup Studio, an accelerator program by [[SAP|SAP Labs India]].<ref name=":5">{{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}}</ref>

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.<ref name=":5" />

By 2020, Moglix had presence in 35 cities in India, including [[Goa]] and [[Guwahati]].<ref name=":6">{{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}}</ref><ref name=":7">{{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}}</ref>

In 2020, the company established partnerships with government agencies and enterprises in the United Kingdom for [[Personal protective equipment|PPE]] supply.<ref name=":7" /> In 2021, Moglix launched Credlix for supply chain financing and acquired [[Singapore]]-based EXIM [[fintech]] company NuPhi.<ref name=":2" /> Moglix expanded its operations to [[Khalifa Port|Khalifa Port Free Trade Zone]] (KIZAD) in [[Abu Dhabi]].<ref name=":2" />

In 2022, Moglix invested around $5 million in [[Electric vehicle|EV]] manufacturing company [[Euler motors]].<ref>{{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}}</ref>

In 2023, Moglix announced that it operates 3,000 manufacturing plants and 40 warehouses across [[India]], [[Singapore]], the [[United Kingdom|UK]], and the [[United Arab Emirates|UAE]].<ref name=":8" /><ref name=":9" />

=== Acquisitions ===
In July 2020, Moglix acquired used machinery ecommerce platform Vendaxo in July 2021 for an undisclosed amount.<ref name=":3" />

In November 2021, Credlix, a subsidiary of Moglix, acquired [[Singapore]]-based EXIM [[fintech]] company NuPhi.<ref name=":2" />

In 2022, the company acquired a 100% stake in Zoglix as part of its expansion into the US market.'''<ref name=":72">{{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}}</ref>'''

In October 2022, Moglix acquired global security and surveillance distribution company’s Indian arm – ADI.<ref name=":9">{{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}}</ref><ref>{{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}}</ref>

=== Layoffs ===
In 2023 Moglix laid off 40 employees, which is 3% of its total staff.<ref>{{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}}</ref>

== ESOPs ==
On June 26, 2021, Moglix concluded an [[Employee Stock Ownership Plan|ESOP]] buyback program in which employees sold up to 25% of their shares, valued at $3 million.<ref>{{Cite web |last=Shah |first=Sneha |date=2023-08-01 |title=Moglix eyes follow-on round, Esop buyback |url=https://www.livemint.com/companies/news/moglix-in-talks-for-30-35m-secondary-round-including-employee-stock-option-buyback-to-boost-b2b-e-commerce-platform-11690911549804.html |access-date=2023-09-20 |website=mint |language=en}}</ref> Moglix also announced an expansion of its ESOP pool to $10 million, including more than 300 employees under the program.<ref>{{Cite web |last=Roy |first=Supriya |date=2021-07-26 |title=B2B commerce unicorn Moglix expands ESOP to $10 mn, to buyback worth $3 mn |url=https://www.techcircle.in/2021/07/26/b2b-commerce-unicorn-moglix-expands-esop-to-10-mn-to-buyback-worth-3-mn |access-date=2023-09-20 |website=Techcircle |language=en}}</ref>

== Funding ==
The company got $622 Mn in funding over nine rounds from investors like [[Tiger Global Management|Tiger Global]] and Alpha Wave Global.<ref name=":8">{{Cite web |date=2023-08-14 |title=India's Unicorn Club: Here's The Comprehensive List Of 100+ Unicorns In India |url=https://inc42.com/features/indias-unicorn-club-the-comprehensive-list-of-unicorns-in-india/ |access-date=2023-09-22 |website=Inc42 Media |language=en}}</ref> [[Ratan Tata]] and [[Accel (company)|Accel Partners]] were the first backers in October 2015.<ref>{{Cite web |title=Start-ups: reinvent or perish |url=https://businessindia.co/magazine/start-ups-reinvent-or-perish |access-date=2023-09-22 |website=businessindia.co |language=en}}</ref> In 2017, Moglix received $12 million in Series B funding from the [[International Finance Corporation]].<ref>{{Cite web |title=Collective Gains |url=https://www.outlookbusiness.com/enterprise-3/feature/collective-gains-4111 |access-date=2023-09-22 |website=Outlook Business}}</ref>

In 2019, the company raised $26 million in Series C funding from Accel US and IFC. Then, in July 2019, it got $60 million in Series D funding from investors like Kalyan Krishnamurthy, [[Tiger Global Management|Tiger Global]], [[Sequoia Capital]], and Composite Capital.<ref name=":6" /> In 2021, Moglix turned [[Unicorn (finance)|unicorn]] with a valuation of $1 billion after a $120 million Series E funding round in May.<ref name=":8" /><ref name=":0" /><ref>{{Cite web |date=2021-05-17 |title=Ratan Tata-backed Moglix 13th unicorn in India this year |url=https://www.businesstoday.in/entrepreneurship/story/ratan-tata-backed-moglix-13th-unicorn-in-india-this-year-296273-2021-05-17 |access-date=2023-09-20 |website=Business Today |language=en}}</ref>

In 2022, Moglix raised $250 million as a part of its F series funding round, at a valuation of $2.6 billion.<ref name=":2" />

== Mogli Foundation ==
In 2021, Moglix established its philanthropic foundation called Mogli Foundation,<ref name=":0" /> which supports health, environmental, and scientific causes.<ref name=":1">{{Cite web |last=Balachandran |first=Manu |title=Rahul Garg And Moglix: On A Mission To Impact 100 Million Lives By 2030 |url=https://www.forbesindia.com/article/tycoons-of-tomorrow-2021/rahul-garg-and-moglix-on-a-mission-to-impact-100-million-lives-by-2030/72611/1 |access-date=2023-09-20 |website=Forbes India |language=en}}</ref><ref name=":4">{{Cite web |last=Carvalho |first=Brian |title=Startup Special: Shining A Light On Non-urban India |url=https://www.forbesindia.com/article/column/startup-special-shining-a-light-on-nonurban-india/68365/1 |access-date=2023-09-20 |website=Forbes India |language=en}}</ref>

== Awards ==
* ET HR ready Organization Award — 2023<ref>{{Cite web |last= |title=ET Future Ready Organisations Awards 2023: Celebrating Industry 5.0 Bootstrappers - ETHRWorld |url=https://hr.economictimes.indiatimes.com/news/industry/et-future-ready-organisations-awards-2023-celebrating-industry-5-0-bootstrappers/100138222 |access-date= |website=ETHRWorld.com |language=en}}</ref>

* 11th edition of [[SAP]] ACE Awards 2018<ref>{{Cite web |date=2018-04-23 |title=SAP Celebrates India Inc's Digital Champions at the 11th ACE Awards |url=https://www.dqchannels.com/sap-celebrates-india-incs-digital-champions-at-the-11th-ace-awards/ |access-date= |website=DQChannels |language=en-US}}</ref>
* Ranked first [[Deloitte|Deloitte India]]'s 'Technology Fast 50 India list in 2020<ref>{{Cite news |date=2018-10-27 |title=Noida-based Moglix the fastest growing Indian tech company: Deloitte India's Technology Fast 50 2018 |work=The Economic Times |url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/noida-based-moglix-the-fastest-growing-indian-tech-company-deloitte-indias-technology-fast-50-2018/articleshow/66388616.cms |access-date= |issn=0013-0389}}</ref>

== References ==
{{Reflist}}

== External links ==
* {{Official website|https://business.moglix.com/}}

[[Category:Indian companies established in 2015]]
[[Category:2015 establishments in Singapore]]

Moglix - Revision history

Wikkythug: Commencing a draft