Moglix, an e-commerce company specialising in B2B (business-to-business) procurement of industrial products, has raised an undisclosed funding from Tata Sons chairman emeritus Ratan Tata.
This marks Tata’s entry as an investor in a manufacturing tech-startup, adding to his varied portfolio of e-commerce and new-age technology enabled companies. With his expertise and keen interest in the sector, Tata will play an important role in mentoring Moglix on business growth, global expansion and leadership, Moglix said. Moglix recently raised Pre-Series A funding from Accel Partners and Jungle Ventures. The funds are being used to enhance the technology platform, build a deep supplier base as well as increase marketing spends across Asia.