Chennai based Aahaa stores raises $2 million from UAE’s Calega | MENA startups, innovation, and tech news

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Chennai based Aahaa stores raises $2 million from UAE’s Calega
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Chennai based Aahaa stores raises $2 million from UAE’s Calega

 The startup is planning to employ the money to upgrade its technology and diversify its business.
 Aahaa stores had earlier raised funds twice, $1 million each from a group of investors led by YourNest.
Aahaa stores is an integrated procurement services provider for office supplies which has raised $2 million from UAE’s global investment group Calega.

Consistent innovation is the need of the hour, on these lines the startup is going to use this money to innovate its technology by up-gradation of processes, spreading business across new heights and areas, augment infrastructure, and effective utilization of human resources. Started in 2013 by industrialist Asokan Sattanathan, Harish Kannan, and Rajesh Sunderasen, Aahaa stores had earlier raised money two times around $1 million each from a group of investors led by YourNest.

“We are keen to invest in India especially in the startups that are dedicated to making use of the technology in an unparalleled manner. Aahaa stores perfectly fit into this kind of style. In India there are plenty of opportunities that needed to be grabbed with the help of the right assistance” said Sanjay Pahwa, director at Calega.

Calega is a group of individual investors, which is globally known for its interest in early-stage investment with the help of its own private funds. Currently, it is investing in the range of $1-5 million and has picked out consumer, technology, and med-tech as areas of promising investment. Aahaa is the first investment of Calega in India and is hoping to fetch satisfying results.

Sattanam, chairman of Aahaa stores said that they are planning to expand the full range of an organized group of products across all major brands in electronics, food & beverage, packaging, and company-specific consumables, etc with the assistance of unique application of modern technology.

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