Moglix, one of India's fastest growing B2B commerce and logistics companies, on Monday said it has closed $23 million Series C funding from investors led by Accel Partners, Jungle Ventures, IFC and Innoven Capital.

The Noida-based company specialises in B2B procurement of industrial products such as MRO, fasteners, electrical, hardware, pneumatics and safety items.

In 2016, the company had raised an undisclosed amount from leading industrialist Ratan Tata.

CNBC-TV18's Syna Dehnugara caught up with founder and chief executive officer, Rahul Garg, to discuss the evolution of Moglix from just an online marketplace for B2B products to a full stack supply chain and logistics company.

First Published:Dec 17, 2018 8:32 PM IST