Power2SME, a buying club for small and medium enterprises (SMEs) in India, today announced that it has raised Rs 42 crores in Series C funding from its existing investors, Accel Partners, Kalaari Capital and Inventus Capital.
The funding will help the company to further expand across the country, enabling it to reach out to more SMEs, enhance its product portfolio, diversify its sourcing channels and increase focus on imports, it said in a press release.
R Narayan, founder and CEO of Power2SME, said, "The decision of all the three investors to reinvest in our business is a testimony of the fact that they have huge confidence in the success and scalability of our business model."
The Gurgaon-headquartered company began operations in early 2012 and now has six offices and over 150 employees. It works closely with SMEs to pool their raw material demands, enabling them to benefit from the power of collective buying. This allows SMEs to obtain the most optimal pricing for their procurement needs from a large pool of quality, recognised suppliers.
The funding will help the company to further expand across the country, enabling it to reach out to more SMEs, enhance its product portfolio, diversify its sourcing channels and increase focus on imports, it said in a press release.
R Narayan, founder and CEO of Power2SME, said, "The decision of all the three investors to reinvest in our business is a testimony of the fact that they have huge confidence in the success and scalability of our business model."
The Gurgaon-headquartered company began operations in early 2012 and now has six offices and over 150 employees. It works closely with SMEs to pool their raw material demands, enabling them to benefit from the power of collective buying. This allows SMEs to obtain the most optimal pricing for their procurement needs from a large pool of quality, recognised suppliers.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%