Rahul Garg’s Success Story
Meet Rahul Garg a former Googler turned entrepreneur extraordinaire! He’s the brains behind Moglix, a booming B2B online store.
Moglix isn’t just any e-commerce site; it’s a game-changer in industrial supply procurement. From safety gear to office essentials, Moglix has it all.
Thanks to Rahul’s genius, Moglix is now valued at a staggering $2.6 billion as of January 2022. He’s the guy who’s making waves in the business world, one innovation at a time.
Rahul Garg Early Life And Education
Rahul Garg grew up in Faridabad, Haryana, in a family deeply connected to both education and business.
His father, S.K. Garg, served as the executive director of C&S Electric, while his mother chose to focus on their home.
Rahul’s academic journey was exceptional from the start. He excelled at APJ School in Faridabad and actively participated in sports during his time at Carmel Convent, where he served as captain for both the badminton and basketball teams.
After completing his engineering degree in Electronics from IIT Kanpur in 2001, Rahul was recognized with the Scholar of Excellence award for securing the first position in his batch at ISB, Hyderabad.
He began his professional career at Ittiam Systems in Bengaluru before spending five years at Google Asia, where he played a key role in launching the Advertising Exchange and driving sales strategy.
Additionally, he served as the Chairman of the Marketing and AdTech community in lAB, Singapore.
In 2010, Rahul pursued an MBA in Marketing from the Indian School of Business, Hyderabad, where once again, he was honored with the ISB Scholar of Excellence award for ranking number one in his batch.
How Moglix Was Started?
Starting with a vision to revolutionize the traditional supply chain, Rahul founded Moglix in 2015.
The company commenced its operations in August 2015 and received initial funding from Ratan Tata, followed by Pre-Series A funding from Accel Partners and Jungle Ventures.
These funds are being utilized to enhance the technology platform, establish a robust supplier base, and bolster marketing efforts across Asia.
Despite facing initial challenges, Moglix secured its first order for safety shoes from Chennai, marking a significant milestone.
In 2017, the company secured Series B funding from the International Finance Corporation and expanded its operations to new cities, including Delhi and Noida.
Additionally, it launched a subsidiary called Zoglix in the US.
In 2020, Moglix established partnerships with government agencies and enterprises in the United Kingdom for PPE supply. Subsequently, in 2021, Moglix launched Credlix for supply chain financing and acquired the Singapore-based EXIM fintech company NuPhi.
As of January 2022, Moglix, an Indian e-commerce company, was valued at $2.6 billion.
The company’s valuation doubled in 2022 following a $250 million Series F funding round from investors like Tiger Global, Alpha Wave Global, and Ward Ferry.
Moglix has raised a total of $470 million across multiple funding rounds.
Rahul Garg Achivements And Awards
Rahul Garg has garnered numerous accolades throughout his business journey.
These include being listed in Fortune’s 40 Under 40 and receiving the Business World Young Entrepreneur Award at the Young Entrepreneur Summit & Awards in 2018.
In 2019, he was honored as Entrepreneur of the Year at the Entrepreneur India Congress & Awards.
Presently, Rahul Garg serves as the co-chairman of the CII Unicorn Forum and heads the CII Delhi Startup Committee.
Amidst the pandemic, he has remained engaged in social initiatives and community-building efforts aimed at safeguarding livelihoods.
His contributions have been recognized with the prestigious IITK Distinguished Alumnus Award in 2021.
Mr. Garg’s entrepreneurial achievements are underpinned by his prowess as a technology expert and innovator. He has been at the forefront of advancing wireless technology, networking, and satellite technology.
With nine authored technology papers presented in national and international conferences, he holds a total of 16 US patents across various domains including wireless technology, digital networks, and analytics.
Also Read: Meet the couplepreneur behind a Rs. 5 crore maternity fashion brand, starting with Rs. 60K
Rahul Garg Investment
Moglix made a substantial investment of around $45.6 million in Euler Motors, founded by Saurav Kumar, during the Series B funding round on October 3, 2022.
Euler Motors is a startup dedicated to manufacturing electric vehicles, with a specific focus on commercial electric three-wheelers.
