Moglix, an e-commerce company specializing in B2B procurement of industrial products, today announced its entry into “SAP Startup Studio”, the 12-month accelerator program launched by SAP Labs India. SAP Labs is establishing a dedicated program to drive entrepreneurship in India and Moglix will receive mentorship, access to technology, infrastructure, and business consulting from SAP Startup Studio.
With SAP’s strong market share in the manufacturing sector in the country and Moglix’s focus on bringing technology and commerce together, the accelerator program will enable Moglix boost the B2B e-commerce disruption in India at a large scale.
Rahul Garg, Founder and CEO of Moglix, said, “We are extremely pleased to be a part of SAP’s accelerator program. We are confident that it is going to benefit us immensely, as we will not only be working closely with SAP but will also have access to SAP’s huge ecosystem of customers and partners. Further, the mentoring and guidance will significantly help us in diversifying and steering the next stage of growth for our company.”
Founded in August 2015, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe. The company is witnessing rapid growth and has partnered with 1000+ manufacturers and distributors across these categories in India, China and other Asian countries. Moglix aims to serve manufacturing companies with cumulative turnover of more than $30B, which is 10% of the Indian manufacturing sector, in the coming 2 years. Moglix currently specializes in B2B procurement of industrial products such as MRO, Fasteners and Industrial Electricals and is also playing an important role in facilitating online convenience and enabling supply chain efficiencies in business purchasing.
Moglix has raised an undisclosed financial investment from renowned industrialist, Mr. Ratan Tata and Pre-Series A funding from Accel Partners and Jungle Ventures.