Aahaa Stores receives another $1 Mn led by YourNest Angel

Chennai-based Aahaa Stores Pvt. Ltd, an online B2B store for office supplies, has raised $1 million funding led by YourNest Angel Fund.

This is the second round of pre pre-Series A funding in the company. Last year, Aahaa Stores had raised around same amount ($1 million) of pre-Series A funding led by the same investor -- YourNest Angel Fund.

The company aims to use the funds to strengthen its technology platform iPOS, mobilise top talent and reach out to new customers across verticals.

“Aahaa Stores has won the trust of the finest enterprise customers across segments, including manufacturing, IT, banking, financial services and insurance, within a short period of time. Winning customer confidence in this competitive market opens further doors for immense growth in meeting the needs of intelligent procurement,” said Sunil K Goyal, managing director and fund manager, YourNest.

Founded in 2013 by Asokan Sattanathan, Rajaraman Sundaresan and Harish Kannan, the startup aims to become a one-stop solution for all needs regarding office management. The portal allows customers to buy stationery, housekeeping material, repair and maintenance products, electronics, appliances, custom-made products, imported merchandise and corporate gifts.

“With our unique solution providing capabilities in the indirect office supplies space, we are well-poised to reach Rs 100 crore run rate and attain breakeven volumes by the end of this financial year,” said Sattanathan.

The company’s clients include IndusInd Bank, Bosch, TCS, Wipro, Equitas, ITC, Samsung, Yes Bank, Ashok Leyland, TVS Credit, and Chola.

Recently, online office supplies startups in India have been able to gain the confidence of venture capital firms; thus raising a significant venture capital interest.

Besides Aahaa Stores ProcMart and DealBerg are the other players in the office space supplies space.

ProcMart, which was earlier known as Instaproc, has also raised an undisclosed amount in angel funding from Indiamart founder and CEO Dinesh Agarwal.

DealBerg, which sells office supplies, had acqui-hired bulk procurement gadgets supplier WeAreGadgets.