Flipkart CEO Kalyan Krishnamurthy invests in TATA e-commerce firm Moglix

Ratan Tata’s B2B industrial e-commerce firm Moglix has received investment from Flipkart CEO Kalyan Krishnamurthy. The investment was made from his personal capacity which raised $23 million in December for Moglix by Series C funding.

A team comprising of 450 people works for Moglix in its currently operating 12 centres in India serving to both institutional customers (B2B) and individual customers (B2C) in the manufacturing sector.

The current focus of the company is on the automotive, metals, mining, and fast-moving consumer durables (FMCD) markets. The other existing investors for Moglix are Accel Partners, Jungle Ventures, Venture Highway and International Finance Corporation (IFC), part of the World Bank Group, Shailesh Rao and Inno Ven Capital.

The investors participated in the company’s Series C funding round, raising $23 million. Kalyan Krishna Murthy, CEO of Flipkart said that he is happy to join the Moglix team as an investor in his personal capacity.

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