In October last year, Californiabased venture capital firm Accel Partners had led the seed round for Moglix.
Tata’s investment comes soon after Infosys cofounder and billionaire Nandan Nilekani stepped in as a strategic investor in the Series-D round for industrial sourcing portal Power2SME, which is also backed by Accel Partners.
The B2B ecommerce sector has seen increased investor activity over the last year with B2B ecommerce marketplace Industrybuying Rs 60 crore from Kalaari raising ` Capital and SAIF Partners in Series-B, and Shotang raising Series-A round of Rs 33 crore from Exfinity Venture Partners and Unitus Impact Livelihoods Fund. Besides, IndiaMART-backed Tolexo has a commitment of Rs 100 crore from its parent company by March. For parent compan Moglix, the current round comes less than six months after it went live in September 2015.