Chennai-based B2B e-procurement platform Kobster has raised an undisclosed amount of funding in a Pre-Series A round led by Incubate Fund.
Apart from Incubate Fund, Chandigarh Angel Network, ANME (Angel Network Middle East), and LetsVenture also participated in this funding round.
Kobster was founded by Karthik Ramaiah, Mohan Gayam, and Vineet Neeraj and was also incubated under PayPal’s Start Tank Programme. It is a full-stack company and focuses on end-to-end solutions, including last-mile fulfilment. Kobster also claims to be operationally profitable.
Kobster’s B2B e-procurement platform enables corporate buyers, retailers, SMEs, home offices, hotels, hospitals etc purchase business products in bulk at wholesale rates. It offers a one-stop-shop platform for all business needs with doorstep delivery, flexible payment options, and 24X7 ordering facility.
Earlier, in 2015, Kobster also raised an undisclosed amount of funding from venture capital firm Splice Capital. The startup also counts among its investors Murugavel Janakiraman, founder and CEO of Matrimony.com, Mahesh Parasuraman,co-founder and partner at Amicus Capital Partners, and Kishore Ganji, CEO of Astir IT Solutions Inc.
Kobster: Bringing Efficiencies In B2B Market
Nao Murakami of Incubate Fund, who is an investor in Kobster, believes that in India, office supply, and the MRO market are highly fragmented and still most of them do offline transactions.