Ratan Tata-backed Moglix becomes new unicorn from India
Ratan Tata-backed Moglix in May announced ...
Ratan Tata, the Chairman Emeritus of Tata Sons, had invested an undisclosed amount in the B2B marketplace in 2016. The latest round of funding takes the total funds raised by Moglix to $220 million. Moglix is building an operating system for manufacturing that provides its customers a full stack service covering procurement, packaging, supply chain financing and highly integrated sftware.
Founded in 2015 by IIT Kanpur and ISB alumnus Garg, it provides solutions to more than 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK and the UAE. Several manufacturing majors such as Hero MotoCorp, Vedanta, Tata Steel, Unilever and PSUs such as Air India and NTPC procure indirect material through the Moglix platform.
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