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 total funding of $220 Million and a valuation of $ 1 Billion.
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 Dubai office manages the company’s customer base in Dubai and the Northern Emirates.
Speaking on the company’s decision to enter the UAE, Moglix’s Founder & CEO Rahul Garg said: “We are excited to be in the UAE. UAE is a gateway to the GCC and a major hub of global commerce and innovation with a vision to transform into a digital economy. The UAE government’s mission and investment in digital upskilling are unmatched and we are looking to collaborate with local talent to jointly drive digital transformation. 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.”