Moglix Urged by DPIIT to Set Up Incubators for Manufacturing Startups

Govt urges big corporates, unicorns to set up incubators for manufacturing startups

The Department for Promotion of Industry and Internal Trade (DPIIT) has approached Moglix, a unicorn, to set up incubators for manufacturing startups in India, providing a blueprint and government funding options to enhance the manufacturing sector's share of the economy.

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Moglix Receives IFC Investment to Support Growth

Productive Technology: How a startup revolutionized Indian B2B commerce for the manufacturing sector

IFC supported Moglix's growth with a total equity investment of US$7.2 million.

Moglix Achieves Unicorn Status with $2.6 Billion Valuation

Moglix achieved unicorn status in May 2021, raising $472.5 million in funding, with an estimated valuation of $2.6 billion.

Moglix Revolutionizes Indian B2B Commerce with Digital Solution

Moglix, founded by Rahul Garg, transformed the B2B e-commerce sector in India by providing a digital solution for industrial firms, impacting 1,000 large enterprises, 500,000 SME customers, and over 20,000 suppliers.

Moglix Reaches $680 Million in Gross Merchandise Value

Moglix's gross merchandise value reached $680 million in 2023, serving companies like ITC, Unilever, and Hero MotoCorp.

Moglix is an Asia-based B2B e-commerce company, headquartered in Singapore, with a focus on industrial procurement and supply chain solutions. It offers enterprise procurement solutions and contract management solutions for procurement and supply chain. The company aims to transform manufacturing through technology-enabled B2B supply chains, making them GST compliant.

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