Online B2B procurement platform Aahaa Stores raised $1 million in the second round of pre-series A funding from existing investor YourNest and other individuals.
The company had raised $1 million in the first round 18 months ago.
The company plans to utilise the funds for expanding the business across new verticals and geographies, according to a press statement.
Asokan Sattanathan, Founder and Chairman, Aahaa Stores, said the funding is a strategic step towards building and enhancing further technology, branding and innovative consumer-centric models. Last fiscal, the company registered a turnover of ₹65 crore and expects to close March 2018 with ₹100 crore.
Consumer confidence Sunil K Goyal, Managing Director and Fund Manager, YourNest, said in the press statement that the start-up has gained consumer confidence in a very short period of time across BFSI, manufacturing and IT sectors. This opens door for immense growth in meeting needs of intelligent procurement, he added.