Moglix: An E-Commerce Venture for Selling Industrial Goods and Tools

Moglix, has about 1,000 sellers on its marketplace. It has raised initial investment of Rs 10 crore from Accel Partners and Jungle Ventures in October and has received an unspecified amount from Ratan Tata in February.

Moglix was begun by Rahul Garg to help online businesses to procure their sourcing transactions for their e-commerce ventures. Rahul Garg was earlier the head of Google's Adx platform for India, South East Asia and Korea. he evolved this business concept to sell industrial goods and tools online to large and small businesses so that they could finish their products by buyin sourcing material online.

Moglix, claims a revenue growth of 40%  since January and rivals Tolexo, which has IndiaMart as an investor.

"We currently have 21 categories and deal mostly in finished components. We have both self-service customers who source for their services or business as well as enterprises ordering through Moglix," Garg said.

Moglix, which provides essential requirements to its sellers, plans to extend its warehouse network. "Currently, we are operating from two places, but will begin to operate from 6 centres by the next quarter (July-September)," Garg said.

Moglix at the moment does not deal in credit with its buyers. "We are working with our larger customers to see how best we can extend credit for the buying cycle," Garg said.