PTI cited Venture Capital fund, Kalaari Capital, as saying that it has invested INR 5 crore into Power2sme, a small businesses purchase aggregator.
Kalaari Capital in a statement said that the infusion will be used for expanding presence across newer geographies, hiring talent and increasing brand visibility.
The statement said that the investment is the part of January 2012 incorporated Power2sme’s INR 10 crore Series A funding for which the USD 150 million venture capital fund Kalaari Capital and Inventus Capital Partners have contributed equally.
Power2sme acts as a buying club for SMEs, which helps the small businesses reduce their buying costs and increase quality of procurements.
