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Moglix acquires e-commerce platform Vendaxo
July 08, 2021
B2B industrial goods marketplace Moglix has acquired Vendaxo, an e-commerce platform for buying and selling used machinery.
As per Moglix, the acquisition would help it give manufacturers access to high-value capital products at economical costs.
Four-year-old Vendaxo is a B2B e-commerce platform very much like Moglix. Established by Poonam Choudhary and Nirat Patel, the organization gives used machinery liquidation solutions for MSMEs and large manufacturing enterprises like Siemens, Arvind India, Marico, Raymond, and Torrent Pharma.
The improvement comes before long the section of Moglix in the unicorn club. The Rahul Garg-drove organization as of late wiped up a $120 million round drove by Falcon Edge Capital and Harvard Management Company.
The Tiger Global-backed organization deals in the industrial and MRO acquirement space with full-stack service covering procurement, packaging, supply chain financing and integrated software. It claims to have around 40,000 buyers and sellers registered on its platform and verified listings of 31,000 stock keeping units.
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