Moglix, one of Asia’s largest and fastest growing B2B Commerce platforms, enters UAE as part of its global expansion plans.
Moglix enables enterprises across the Manufacturing, Oil & Gas and Infrastructure sectors to transform their end-to-end supply chain, from procurement to distribution. Through their digital platform, supplier and buyer network, and logistics strength, they bring down cost, enhance sales, improve operational efficiency, and make the supply chain touchless. Moglix recently raised its Series E round of funding led by Falcon Edge Capital through their Abu Dhabi based Alpha Wave Ventures, making it the first B2B Commerce unicorn in the manufacturing sector, with a total funding of $220 Million and a valuation of $1 Billion.
Moglix has established its operations in the Khalifa Port Free Trade Zone (KIZAD) in the heart of Abu Dhabi’s industrial area. It is collaborating closely with large manufacturing enterprises across the country to simplify indirect procurement and enable tech-led supply chains. It has also launched its B2B e-commerce platform, moglix.ae which will start to provide a digital catalog of 500,000 industrial products across 50+ categories over the next few months.
Speaking on the company’s decision to enter the UAE, Moglix’s Founder & CEO Rahul Garg said: “We are excited to enter the UAE. UAE is a gateway to the GCC and a major hub of global commerce and innovation with a vision to transform into a Digital economy. The UAE government’s mission and investment in digital upskilling is unmatched and we are looking to collaborate with local talent to jointly drive digital transformation. Our vision to build the operating system for commerce is closely aligned with the Digital UAE initiative to make the UAE a Smart Country and we are looking forward to empowering stakeholders to achieve this goal.“
Navroz D. Udwadia, Co-Founder, Falcon Edge Capital, investor in Moglix, said, “Moglix seamlessly connects suppliers with a fragmented buyer base through its data science driven technology. Moglix demonstrates immense value addition to the manufacturing sector and has proven tangible ROI in India which can be scaled globally, and is building a business with robust and sustainable unit economics. Our field work indicated significant procurement and efficiency benefits to buyers as well as scale and reach benefits to suppliers. Moglix will bring the same engine of innovation and excellence to the manufacturing ecosystem in the Middle East, creating growth opportunities for suppliers and manufacturers.”
Moglix provides solutions to more than 500,000 small and medium enterprises and 3,000 manufacturing plants. Moglix has a supply chain network of 16,000+ suppliers, 35+ warehouses and logistics infrastructure. Accel Partners, Jungle Ventures and Venture Highway have been the earliest investors in the company. Moglix has in-subsequent rounds received investments from leading global venture capital funds such as Harvard Management Company, Tiger Global, Sequoia Capital India, International Finance Corporation. Mr. Ratan Tata, Chairman emeritus, Tata Sons had invested in the start-up in 2015.
© Press Release 2021