Asia's fastest growing B2B Commerce Unicorn Moglix Enters the UAE

Moglix has established its operations in the Khalifa Port Free Trade Zone (KIZAD) in the heart of Abu Dhabi's industrial area

  

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.”

About Moglix

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.

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases