Zoffio in funding talks for $10 Mn with venture capital firms. Bengaluru-based Arcadia Technologies P Ltd owns and operates Zoffio.com, is leading online office stationery supplier. The e-commerce company is a part of Zuri Group which has business in hotels, floriculture and energy in India, Kenya, Mideast and the UK.
Zoffio.com aims at organizing office supplies industry in India. Right now the market is highly disorganized; Zoffio claims it has 5,000+ corporate and SME’s on its clientele list. Zoffio has main categories such as stationery, paper products, tech & digital, printer and cartridges, office gifting and customized stationery.
Zoffio has tied up several delivering agents such as courier agencies to deliver the products. Right now the company has established two depots, in New Delhi and Bengaluru. They are planning to expand to several cities in India.
Zoffio was founded by Abhishek Kamani and Bobby Kamani, cousins and third generation entrepreneurs from the Kamani Family which owns Zuri Group. The company has seen a steady rise in profit from INR 3 Crores in 2013 to INR 11 Crores in 2014 and may cross the INR 33 Crores by this fiscal year.
The company is headed Abhishek Kamani, Chief Executive Officer has graduated in Masters of Business Administration from King’s College, Oxford, London. He is MD of Zuri Hotels and Resorts in India. He has recruited senior teams who have worked in online companies like Yahoo and Snapdeal. Zuri Group has invested $5 million in Zoffio.com.
Zoffio.com has Dish TV, Tata Communications, YUM Brands, Bharti AXA, GE and OnMobile on its client list. However the company may face competition from Future Group Staples brand and Tolexo, a subsidiary of IndiaMART, which is catering industrial supplies such as industrial attire such as protective boots, glasses, industrial tools and various items.
Tolexo is in talks with leading venture capital firms for fundraising, this particular segment has not got much attention from the leading online firms like Amazon, Flipkart or Snapdeal. Most of the business happens on a B2B basis. However B2C is a small market and hence it has not got much importance as of now, this may change with the changes in the economy and with the rollout of next telecom waves in India.