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2015-02-06

PayPal incubated Kobster receives seed funding from Splice Advisors

The startup would also explore various business specific products like industrial supplies, medical supplies in the future.

Chennai based specialty e-retailer for corporate consumables, Kobster.com has raised undisclosed amount of seed funding led by Splice Advisors.

Hyderabad-based Splice Advisors, a seed venture capital company has over 26 investments in various companies. Recently it invested in Doctor C, a Hyderabad based healthcare ecommerce start-up.

Kobster.com provides all kinds of business consumables through its online platform to corporate across India. The portal currently offers basic office supplies, furniture, housekeeping products, pantry supplies etc.

The startup would also explore various business specific products like industrial supplies, medical supplies etc. in the future.

"We aim to consumarize the corporate procurement process and revolutionize the way corporate shop for their office needs by leveraging the power of e-commerce," said one of the co-founders.

Started in 2012, Kobster boost of having customers like Hyundai, Bhadra, SabMiller, Hospira, ABB, BGR Energy, LatentView etc.

Currently operating in Chennai and Bengaluru, Kobster aims to become pan India company in next 1.5 years by expanding to at-least 5-6 different cities.

Indian business-to-business (B2B) market is worth $300 billion which will expand to $700 billion by 2020.

Kobster.com is in the unique and interesting space, where almost 95 per cent of market is unorganized.

"Kobster is trying to organize this market with the help to technology, huge product range and unmatched customer service," said a spokesman from Splice Advisors.

The startup also provides an exclusive e-procurement platform to corporate, providing features like smooth ordering platform, inventory management, spend management, cost optimization suggestions, analytics, centralized invoicing etc.

The funds raised by the startup will be used to expand to different cities, building technological strength and acquiring more customers.

This startup is founded by Mohan G, Karthik R and Vineet Neeraj, who has prior experience in IT companies like Cognizant, HCL and is currently incubated by PayPal StartTank Chennai.

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