Kobster, a tech-enabled sourcing platform facilitating businesses to buy goods online has recently raised their Pre- Series A round led by Incubate Fund.
Mr. Murugavel Janakiraman (Founder and CEO of Matrimony.com), Mahesh Parasuraman (Co-Founder & Partner at Amicus Capital Partners), Kishore Ganji (CEO Astir IT Solutions Inc), Splice Capital, Chandigarh Angel Network, ANME (Angel Network Middle East) and investors on LetsVenture also participate in this round.
The startup will use this funding to fuel its growth and expand to Tier 2 cities, strengthen category offering, build advanced technology features and penetrate deeper into the customer base.
Founded by Karthik Ramaiah, Mohan Gayam & Vineet Neeraj and incubated by PayPal’s prestigious Start Tank Programme, Kobster is working towards a vision to streamline the corporate indirect purchases space with the help of their own cloud based e-procurement tool called “Kobster Elite”.
Shanti Mohan, Founder & CEO of LetsVenture said, “In India, most of the business procurement happens in the traditional offline way, and there is huge potential to organize this market and bring transparency in quality and pricing. Kobster founders have proven their mettle by onboarding marquee clients and growing at a steady rate. I’m very confident of their operational expertise and I’m sure that this fundraising will help them scale to the next level.”
Kobster is a full-stack company and focuses on end-to-end solution including last mile fulfilment. Kobster also claims to be operationally profitable.
Mid and large enterprises see a value here to switch to a digital platform as the company claims to reduce 15-20% on indirect cost and increase the efficiency by 30-40%.
Started in Chennai, Kobster expand their physical presence in Chennai, Bangalore, Mumbai, Delhi/NCR, Hyderabad and Pune.
Kobster has partnered with 5000+ brands and vendors and offers over 1 Lakh products across categories like stationery, housekeeping, Pantry, electronics, IT consumable, electrical and others.
A pioneer in Indian B2B e-procurement industry, Kobster is serving more than 100 traditional and new age corporates including companies like Oracle, Altisource, MindTree, Virtusa, Urban Ladder, CoWrks, DB schenker and many more.