PayPal Start Tank incubatee, Kobster.com, an online portal offering office supplies, has raised an undisclosed amount in seed funding from Splice Advisors to fund its expansion plans.
The funding will be used by the Chennai based startup to expand its geographical presence, enhance technology and acquire customers.
Founded in 2012, Kobster offers a range of office supplies including, stationery supplies, pen, pencils, markers, highlighters, computer accessories, corporate gifts, computer hardware, computer peripherals, office furniture, cleaning equipment, maintenance equipment, new year diaries, house keeping supplies, networking components, paper products, routers, electronic safe and among others.
The founders, Mohan Gayam, Karthik Ramaiah and Vineet Neeraj, plan to expand their company’s presence across the country foraying into 5-6 different cities in the coming 15 months. While Mohan, a former HCL employee, oversees the product development and supplier relations, Karthik, a former Java developer at Cognizant handles the technical aspects and customer support. Vineet is an entrepreneur and has previously founded event services startup, Yippie and a product startup, ArrayShield. He looks after the sales and marketing at Kobster.
Serving clients like Hyundai, Bhadra, SabMiller, Hospira, ABB, BGR Energy, LatentView, it also offers exclusive e-procurement platform with features like an ordering platform, inventory management, spend management, cost optimization suggestions, analytics, centralized invoicing etc.
It faces competition from Staplesfuture, a JV between Staples and Future Group, and eofficeplanet, a partnership between OfficeDepot and Reliance along with Delhi-based 1click1call.com and Mohali-based iThinkStore.
It plans to target educational and hospitals going ahead.
Hyderabad based Splice, who’s portfolio consists of Druva, StayZilla, TaxSpanner, PreetyScreens, had recently invested in Hyderabad diagnostic service aggregator, DoctorC, along with California based Leviathan Investments.