Moglix, a Ratan Tata-sponsored B2B mechanical products e-commercial center, reported on Monday that it has gotten venture from Flipkart CEO Kalyan Krishnamurthy in his own ability. The venture pursues a Series C subsidizing round that raised $23 million for Moglix in December.
Business news : Moglix has a group involving more than 450 individuals and as of now works crosswise over 12 focuses in India, obliging both institutional clients (B2B) and individual clients (B2C) in the assembling part. It at present spotlights on the car, metals, mining, and quick moving customer durables (FMCD) markets.
Moglix’s current financial specialists incorporate Accel Partners, Jungle Ventures, Venture Highway and International Finance Corporation (IFC), some portion of the World Bank Group, Shailesh Rao and InnoVen Capital. They partook in the organization’s Series C subsidizing round, raising $23 million to help Moglix in reinforcing its B2B dissemination system and production network crosswise over India and venturing into new market fragments.
“I am glad to join the Moglix group as a speculator in my own ability. Moglix, under Rahul’s administration, has graphed great development in the B2B business space and is making significant effect on the assembling business through inventive utilization of innovation. It is satisfying to most likely help this home-become modern B2B pioneer at this critical point,” said Kalyan Krishnamurthy, CEO, Flipkart.