From Goa to Guwahati, Moglix, a business-to-business (B2B) ecommerce platform for industrial goods, has expanded its footprint across India in recent months as it sees business growth amid Covid-19.
The Noida-headquartered company operated by Moglilabs has also doubled down on category expansion and is scoping out acquisition targets in the manufacturing services side across logistics, financing and technology.
In an interview with TechCircle, CEO of Moglix Rahul Garg said that the company is expanding categories beyond MRO (maintenance repair and operations) which alone accounts for 45 categories.
“We started working on packaging last year and are among the largest packaging platforms in the country,” Garg told TechCircle, adding that an increasing share of B2B sourcing will shift online.
He further added that the company had diversified the industries it caters to, supplying finished goods to steel, mining, pharma, chemical, automotive and other sectors.
Moglix has a presence across 35 cities and according to Garg, serves about 80% of the manufacturing hubs in the country. The company is also looking at smaller players which can drive its expansion to smaller cities.
“We are also seeing an increased demand for suppliers to increase the volume of their business by 2x to 4x,” Garg said, adding that the Covid-19 related national lockdown has also pushed both suppliers and customers to work with organized players.
Founded by Garg in 2015, the company last raised $60 million in a Series D equity round led by Tiger Global Management. While Moglix is among the well-funded players, it competes with Industrybuying which saw Japanese company MonotaRO acquiring a controlling stake in its SME business for $15 million. It also competes with B Capital backed Bizongo on the packaging solutions for manufacturers.