Enters UAE as part of its global expansion plans
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 US$ 220mn and a valuation of US$ 1bn.
Moglix has established its operations in the Khalifa Port Free Trade Zone (KIZAD). 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, the company announced via a press communiqué.
“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,” emphasized Rahul Garg, Founder & CEO, Moglix.
“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,” noted Navroz D. Udwadia, Co-Founder, Falcon Edge Capital, investor in Moglix.
Through their digital platform, supplier and buyer network, and logistics strength, Moglix brings down cost, enhance sales, improve operational efficiency, and make the supply chain touchless, the press note concluded.