Moglix, an e-commerce company, has recently announced that Indian industrialist Ratan Tata has started to do financial investment on B2B marketplace. The investment branch started with Moglix according to the undisclosed monetary investment made on Moglix by Ratan Tata.
News sources say that Mr. Industrialist (Ratan Tata) have had already made investments earlier in many e-commerce businesses as well as on next-gen technology enabled corporations.
Moglix is specialized in dealing with industrial products such as industrial electrical, MROs and Fasteners by venturing with its partners from China, India, and other Asian countries. B2B marketing principles govern the company Moglix. Rahul Garg, the founder of Moglix, was earlier an employee of Google who is committed to helping technological disruption of the B2B industrial products space.
Wideness of Investment Made By Ratan Tata:
Moglix was founded in August 2015 with which it starts the journey to allow online convenience as well as enabling the efficiencies of the supply chain in purchasing business. News says that this is the sixth investment that Ratan Tata has made this year. Mr. Tata, who was accredited as the leading industrialist of India, has invested the most undisclosed amount in these B2B operated companies.
With years of industrial experience and intense interest, Mr. Tata will undoubtedly play a significant role in guiding Moglix to see the growth in achieving its corporate goal, leadership, and global expansion. Moglix says “We find a mentor cum professional expertise to do business globally.”
List of Other Five Investments Made By Mr.Tata:
- And last but not the least TeaBox
The IDG Ventures India’s senior advisor and the Chairman of Tata Trust, Mr.Ratan Tata has had made some personal investment in B2B start-up businesses ranging from cab aggregators to e-commerce companies. He is also an investor of many firms such as Urban Ladder, Sabse Technologies, Ola, Car Dekho, DogSpot.In, Kaaryah, Snapdeal and China’s Xiaomi.
The company Moglix has recently increased a funding named ‘pre-series’ which is the result of business venture established between Jungle and Accel Partners. These funding will be used to increase the effectiveness of the technology platform to create a profound supplier base. The funds will also be used to enhance the marketing spending nature around Asia.
Speech from Moglix Founder cum CEO:
In an answer, the founder and CEO of Moglix Rahul Garg said that “All the team members of Moglix were extremely delighted to welcome Mr. Tata as a mentor to lead us ahead and continues to become the Indian manufacturing icon”. Mr. Tata’s contribution to the manufacturing industries has been inspiring millions which make us look forward to his assistance- Mr. Rahul said in a statement.
Under Mr. Tata’s guidance, Moglix will steer the company in the direction of converting the selling and buying procedure for widespread manufactures in India- he added.
Though many countries surrounded to India are evolved near technology adaptation for sales and procurement, but still it lacks to adopt technology because of inefficiencies available in the process as well as exposure to limited marketing. Moglix strongly believes that it can only be solved with the technology-first mindset- Rahul added.