Moglix

B2B e-commerce platform Moglix on Wednesday said it has signed an initial pact with the Department for Promotion of Industry and Internal Trade (DPIIT) for manufacturing incubation programme. The initiative aims to equip growth phase startups with tools, resources, and opportunities to accelerate their progress and drive innovation in the manufacturing sector, Moglix said. The programme will support over 25 growth phase startups in industries such as chemicals, automotive infrastructure and green energy, Moglix said. These startups will participate in the 12-month manufacturing incubation programme offering access to Moglix's extensive mentor network, supply chain infrastructure, and financial support via its NBFC arm Credlix, it said. "This collaboration is a transformative step for India's manufacturing sector. By combining Moglix's technological expertise with DPIIT's strategic guidance, we aim to build a sustainable, innovation-driven manufacturing economy that empowers ...

B2B e-commerce unicorn Moglix on Friday announced its plans to invest USD 50 million to support the expansion of its supply chain financing subsidiary, Credlix, into the US and Mexico. Credlix will offer collateral-free financing solutions that improve cash flow, reduce financial burdens, and enable SMEs to scale operations in the US and Mexico. "Credlix has announced its expansion into the USA and Mexico, backed by USD 50 million in funding from Moglix," a company statement said. "The decision to invest was made within this financial year. The investment will be phased within the year. Additionally, Moglix will continue to invest long term," Moglix Founder and CEO Rahul Garg said. Credlix's expansion focuses on the manufacturing sector, including key industries such as automotive, textiles and apparel, aerospace components, industrial and consumer chemicals, agriproducts, and electronics, the statement said. "Just as we've supported manufacturing and infrastructure businesses in

Company will use the money to strengthen manufacturing, supply chain and hire talent

The announcement comes as a boost to Moglix's senior leadership as it is poised for global expansion and growth

The acquisition comes shortly after Moglix's entry into the Middle East region

The company says it has expanded ESOP pool by $10 million to include more than 300 employees under the programme

An alumnus of IIT Bombay and Booth School of Business, University of Chicago, Vasudevan has held leadership positions at Ecolab, Pentair, Schlumberger, and McKinsey

Move is a step towards creating a sustainable, capital-efficient manufacturing ecosystem; Moglix aims to provide access to high-value capital goods at economical prices to manufacturers

The industrial B2B startup for manufacturing plans to tap emerging markets such as Middle East, Southeast Asia, Africa and countries such as Bangladesh, Sri Lanka and Nepal

Industrial business-to-business company is the fourteenth Indian company this year to reach unicorn status

Business-to-business commerce firm Moglix is expanding its footprint across India and is now present at 35 locations with the inclusion of Goa and Guwahati.

The Indian indirect purchase market is currently worth $50 billion-plus and is estimated to grow to $100 billion by 2025

The e-commerce firm sees finding talent crucial to its expansion plan

Small and large enterprises have to procure industrial products from 100s of suppliers. Moglix, a business-to-business (B2B) e-commerce start-up, is trying to use technology to disrupt the traditional distribution channels for industrial products.Recently, the B2B start-up which specialises in procurement of industrial products such as fasteners and industrial electricals, raised $4.2 million (Rs 28 crore) in a Series-A round of funding, led by Accel Partners, Jungle Ventures and SeedPlus. It had also raised $1.5 million (Rs 10 crore) in November last year in the pre-Series-A round from Accel Partners and Jungle Ventures. Ratan Tata also invested in the start-up in February.Founded in August 2015 by Rahul Garg, the start-up caters to around 20,000 small and medium-sized enterprises (SMEs) and 100 large manufacturing houses through its platform. It has also partnered with manufacturers and distributors from China and Taiwan.The company charges a commission of 5-15 per cent on every tran