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Podcast: Moglix founder on path to profitability, acquisitions and more

Industrial goods marketplace Moglix has raised over $100 million since its launch in 2015 from marquee investors including Ratan Tata, Accel, Jungle Venture and World Bank arm International Finance Corporation.

This amount includes the $60 million it raised last year in a Series D funding round led by Tiger Global.

In an interaction with VCCircle, Moglix founder Rahul Garg said the company is well-capitalised and will probably do one more equity fundraise before floating an initial public offering. The company is also moving towards profitability, he added.

On tackling problems arising out of the coronavirus pandemic, he said that the company did face challenges in the initial days of the lockdown that was imposed in late March.

But he said Moglix’s business never fell much below pre-pandemic levels as it added the packaging business vertical and strengthened its core business. “In the last three months, our business has been above pre-COVID-19 levels,” he said.

Garg also said that Moglix is actively looking at acquisitions across the B2B spectrum including areas such as logistics and financing.

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