Chennai-based online B2B store for office supplies, Aahaa Stores has raised $2M in its third round of funding from a UAE-based global investment Group Calega. Before this round, the company raised capital funds twice, $1 million each from a group of investors led by YourNest.
Aahaa Stores plans to utilize the fresh investments to upgrade their technology, expand business across new verticals and geographies, enrich infrastructure by inducting more independent service providers and mobilizing superior talent.
Asokan Sattanathan, Founder and Chairman, Aahaa Stores, said, “Using these funds, we plan to expand the full range of curated assortment of products across all major brands in Stationery, Printed materials, Housekeeping, Electronics & IT, Food & Beverage, Packaging and Company specific consumables.”
Mumbai-based Candle Partners were the exclusive financial advisors to Calega for the current transaction.
Founded in early 2013 by industry veteran Asokan Sattanathan and B-School alumni, Rajaraman Sundaresan and Shri Harish Kannan, Aahaa Stores enables a one-stop solution for all business needs pertaining to office management. The platform allows purchasing stationary, housekeeping materials, electronics appliances, imported merchandise and corporate gifting. It delivers products to over 4500 pincodes from 11 operational locations across India.
The company’s proprietary iPOS (intelligent Point of Sale) platform is designed to integrate all steps of evolved supply chain processes like demand aggregation, online approvals, e-Catalogue, recommendation engine, micro logistics through auto-assignments, real-time analytics and spend control tools.
The company is known specifically for rejigging brands through mobilising rich and attractive merchandise in their brand stores and taking end to end responsibility from sourcing to last mile delivery. Aahaa Stores claims to serve some of the top-notch clients in industry including IndusInd bank, Tata AIG, TCS, Wipro, Reliance Nippon, ITC Hotels, Oyo, Uber, Yes Bank, Equitas, Ashok Leyland, Bosch, Eicher, RBL, HDB Financial, Syntel, HGS, Kone, Tata Capital and WPP Group.
In B2B e-commerce, Moglix and IndustryBuying are two key players who also deliver goods from office supply categories.