Startup Nuoaura Broke-Even In Just 10 Months with Funding from Arkarise Group

Nuoaura.com, an Arkarise Group Venture, is a online megastore for Indian businesses, be it a startup or a large corporate in India, for buying all kinds of “Office Supplies, Consumables & Merchandising” needed on a routine basis. Offering Office Supplies, IT & Tech products, Facility Consumables, Corporate Gifting, Breakroom supplies, Premium stationary, Education supplies, Electronic supplies, Furniture & office interiors and On-demand printing, marketing & design services, the B2B e-commerce megastore aims to simplify the business-buying experience and improve productivity for every Indian business.

Established in October 2015, Nuoaura.com was ideated after noticing several gaps in the office needs procurement space. The founder Sharad Jaiprakash observed that India’s office supplies industry was highly fragmented, with issues such as lack of professional supply systems, multiple vendor management, inefficient logistics and multi-location service delivery, and a lack of clarity on consumption & planning. Moreover, they witnessed 95% of the B2B supplies market in the country being driven by traditional sourcing methods, unorganized vendor models and growing demand from customers.

Neoaura started its operations in January 2016 with internal funding from Arkarise group, and in 10 months reached break-even. Their monetization model depends upon the back to back trading of goods and services. It has achieved a QoQ revenue growth of 52% and has posted more than half a million in profits in its first year. They enjoy patronage from big businesses such as TATA, Tesco, Essar Group, Microland as well as SMEs and startups like Y-Axis, Ujjivan Bank, Beckman and Kamineni Hospitals.

Mr. Sharad Jaiprakash, Founder of Nuoaura comments, “We are elated with the success of our first year. This kind of growth for a startup is unheard of. It is very encouraging and we hope to be the preferred one-stop-sourcing platform for office supplies, consumables & merchandising for all businesses.”

Focusing primarily on its product portfolio, technology platform/tools, and service delivery, Nuoaura.com emphasizes on numerous advantages for the businesses as a one-window fulfilment destination to manage all their sourcing needs. It customizes buying catalogues for a company, provides automated approval processes, tracks the monthly spend of a business, offers exclusive pricing based on the needs, customizes payment terms, concierges helpdesk to attend queries, provides dedicated account managers to large B2B customers and guarantees support, cash backs, returns & refunds. From requisition to delivery and post-sales, Nuoaura.com takes control of everything through its local support team that manages all queries related to installation, troubleshooting and warranty services directly. The B2B marketplace also offers certain products on rent.

“Organizing and the most unorganized supplies market continues to be a big challenge. Influencing the mindset of customers/businesses in organizing their sourcing activities and even consider automation of those processes has been the real test.”, elaborated Mr. Jaiprakash.

Headquartered in Bangalore, Nuoaura.com has set up its regional operations at Hyderabad & Chennai and caters to large corporates, MNCs, SMEs, and startup businesses. With more than 50 corporate companies already empanelled on the marketplace as one of the preferred vendors and around 70+ product items sold per month, Nuoaura.com is recording a quarterly revenue growth of 43%. It is well poised to become the most preferred digital platform for Indian businesses in managing their workplace needs.

This year, Nuoaura plans to expand into other cities, engage more businesses online to manage their office procurement needs and increase partnerships with more brands & suppliers across categories.