wordpress blog stats
Connect with us

Hi, what are you looking for?

B2B e-com startup Aahaa stores gets funding of $2M from Group Calega

Aahaa stores, a B2B e-commerce company for office supplies, specializing in indirect purchases, has raised funding of $2 million in from UAE-based investment firm Group Calega. The new funds will be used for business expansion, enhance its technology base and infrastructure, and to acquire new talent. The Chennai-based startup was founded in 2013 by Asokan Sattanathan, Rajaraman Sundaresan and Harish Kannan and offers solutions for office management. The company has clients including IndusInd bank, Tata AIG, TCS, Wipro, ITC Hotels, Oyo, Uber, Yes Bank, Equitas, Ashok Leyland, Bosch, Eicher, RBL- to name a few. The company had earlier raised capital funds twice, $1 million each from a group of investors led by YourNest. Asokan Sattanathan said in a statement that the company is on course to achieve the first milestone of Rs 100 million per month sales, and that using these funds, it 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 others. B2B marketplace in India Indian government allowed 100% FDI in B2B sector in 2012 with some restrictions. Following the policy change, several startups were set up in India within the B2B space, which saw active investments from both individual investors and venture capitalists. Aahaa competes with the players like Moglix, a B2B e-commerce company specializing in procurement of industrial products for manufacturers, which raised $12 million last year in July in a Series B investment from the International Finance Corporation (IFC) and Rocketship.vc, along…

Please subscribe/login to read the full story.
Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

Free Reads

News

Amazon and Flipkart are opposing untested ex-ante regulations modeled according to the EU Digital Markets Act in India, saying the current system is already...

News

As per a report, Apple has been testing its own large language model (LLM) since last year but its technology remains behind the AI...

News

Telecom companies are against a regulatory sandbox, as they think information revealed by businesses during the sandboxing process might be confidential should be out...

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ