B2B E-commerce Platform Moglix Raises Rs 28 Crore in Series A Round

Ratan Tata-backed B2B e-commerce firm, Moglix which specializes in procurement of industrial products has raised Rs 28 crore in a series A funding round led by Accel Partners, with participation by Jungle Ventures and SeedPlus. As part of the deal, Anurag Srivastava, founding and managing partner, Jungle Ventures, will be joining the advisory board of Moglix.

The funds raised will be used to expand operations in eastern and southern markets and increase its customer base of small and medium enterprises (SMEs) and large manufacturers.