Power2sme's expansion plans in the Indian market get fuel from Kalaari Capital's (formerly IndoUS Venture Partners) investment. Kalaari Capital has joined hands with the company’s existing investor Inventus Capital Partners in extending the Series A fundraising. The new funds will be used for scaling presence across newer geographies including Mumbai, Pune, Ahmedabad, Chandigarh, hiring talent and increasing the company’s brand visibility.
Having started operations in January 2012, Power2sme provides a platform that enables the SMEs to cut costs and build efficiencies in their business processes, thus allowing them to compete on an equal footing with large enterprises. You can read more about them in our recent coverage. The company’s current focus is on servicing industries such as construction, manufacturing, precision engineering, automotive OEM and it plans to expand its services to various other
Speaking about the second funding event, R. Narayan, Founder & CEO, Power2sme said, “We plan to use these funds to further scale our operations, focus on newer products and increase our reach in the Indian market. We are strong believers in the potential of India’s SME market, and the funding will be used to build a strong foundation to cater to SMEs across multiple sectors and geographies.”sectors over the coming months.
“Power2sme is one of India's fastest growing businesses in the B2B space. The high satisfaction level of SMEs as well as suppliers is testimony to the excellent service that the company provides SMEs and also the value seen by the suppliers. We see immense potential in their business model and are highly confident of the capability of the team to execute it well,” Vani Kola, MD, Kalaari Capital said. Vani will join the board of the Company following this investment from Kalaari Capital.
Edited by Shyamal Dave