Chennai-based Aahaa Stores, an online office supplies platform, today announced that it has raised the second round of pre-series A funding from investor group led by YourNest Angel Fund. Two of the existing investors including YourNest have participated in this round as well at a substantially higher valuation as compared to their earlier investments. This reaffirms the investors’ faith in Aahaa Stores. In addition to them, a new investor with a strong equity financing background has picked up 50% equity of the fresh capital.
Launched in 2013, Aahaa has hugely benefitted the BFSI and IT sectors by managing their daily need of essential indirect supplies efficiently and effectively at 4000+ branches across the country. Aahaa has helped many corporates of repute rejig their brand through mobilizing rich and attractive merchandise in their Brand Stores and taking end to end responsibility from sourcing to last mile delivery. Aahaa is immensely popular for streamlining purchase to pay processes in the otherwise competitive manufacturing sector when it comes to tail spends.
Asokan Sattanathan, Founder and Chairman, Aahaa Stores, said “The second round of pre-series A funding from YourNest and other marquee investors is a strategic step towards building and enhancing further on technology, talent, infrastructure, brand and innovative customer-centric business models. With our unique solution providing capabilities in the indirect office supplies space, we are well-poised to reach INR 100 crores run rate and attain breakeven volumes by the end of this financial year. Within a short span of time, we have been able to create a niche platform for online office supplies segment which reiterates our confidence that we will soon emerge as a leader in the online office supplies space.”
Aahaa Stores will utilize the latest raised capital for expanding the business across new verticals and geographies. The company also wants to strengthen its technology platform iPOS, mobilizing top talent and reaching out to new customers across verticals.
Earlier, the company had raised first round funding of equal amount around eighteen months ago. The company had grown multifold since then in terms of Product portfolio, customer base, geographical presence and sales turnover.