Moglix, a Singapore-based B2B e-commerce company, raised $23m in funding.
The round was led by Accel Partners, Jungle Ventures and International Finance Corporation (IFC).
The company plans to use the capital expansion besides beefing up its logistics network and supply chain.
Led by Rahul Garg, founder and CEO, Moglix is a B2B commerce company focused on B2B procurement of industrial supplies, in particular, MRO, Safety, Electrical & Lighting, Cleaning & Laundry Supplies, Office Supplies, Tools and other industry essentials.
The company employs over 450 people in India serving both institutional customers (B2B) and individual customers (B2C). It works with over 400 large manufacturing clients and over 250,000 SMEs.