Moglix Acquires Khatema Fibres for INR 80 Cr to Expand Sustainable Packaging Portfolio The acquisition aims to enhance sustainable packaging, strengthen industrial procurement leadership, expand Next Day Delivery to 40 cities, and foster community growth through improved infrastructure and streamlined operations.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
B2B marketplace unicorn Moglix has acquired Khatema Fibres, an eco-friendly paper products manufacturer, for INR 80 crore (approximately USD 9.4 million). This strategic acquisition bolsters Moglix's sustainable packaging portfolio and strengthens its position in the industrial procurement segment.
Founded in 1990, Khatema Fibres specialises in sustainable paper manufacturing with an annual production capacity of 50,000 metric tons. Its diverse product offerings include high-strength kraft paper, interleaving paper, tissue variants, food-grade packaging, and more.
Moglix plans to integrate Khatema's manufacturing capabilities to streamline production, reduce lead times, and enhance operational efficiency.
Rahul Garg, Founder and CEO of Moglix, stated, "We are delighted to welcome Khatema Fibres into the Moglix family. This acquisition not only expands our manufacturing footprint but also enables us to deliver greater value as we meet the dynamic demands of the market."
Moglix is also focused on rapid service expansion with its Next Day Delivery service, currently operational in 12 cities. The company plans to extend this service to 40 cities, ensuring faster delivery and customer satisfaction. Additionally, it aims to enter five new manufacturing categories, diversifying its offerings while fostering growth opportunities for local farmers and artisans.
Launched in 2015, Moglix provides a wide range of industrial products, including electrical supplies, power tools, motors, and medical supplies, through its online platform.
The company has secured significant funding, raising USD 120 million in its Series E round in 2021, with investors like Falcon Edge Capital, Harvard Management Company, Tiger Global, and Sequoia Capital India. Moglix has also invested USD 50 million into its supply chain financing arm, Credlix, to expand into the US and Mexico.
This acquisition highlights Moglix's commitment to sustainable practices, efficient operations, and community development while advancing its ambitious growth strategy.
