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India : MOGLIX secured investment from TATA SONS CHAIRMAN
Publish Date : 10-Feb-2016
Tata Sons Chairman Emeritus Ratan Tata has made an unrevealed amount of investment in the business-to-business (B2B) e-commerce platform Moglix, according to the announcement of the company.
Tata has earlier invested in numerous e-commerce and new-age technology-focused businesses as well.
Moglix, which was set by ex-Google employee Rahul Garg in last August, is focused on B2B procurement of industrial products such as MROs, Fasteners and industrial electrical, equipped with nationwide partnerships with manufacturing companies, apart from alliances across China and other countries in Asia.
The Noida-based startup specializes in technologically disrupting the field of B2B Industrial products for global providers and customers.
Moglix enables online convenience and allows supply chain efficiencies in business procurement.
Recently the company tapped Accel Partners and Jungle Ventures to secure Pre-Series A funding to be utilized for the improvement of the technology platform, as well as creation of a profound base of suppliers and augmentation of marketing expenditure throughout the Asian region.
