Deal corner: Kalaari Capital invests in Power2sme

Power2sme, a group buying site targeted at small and medium enterprises, has raised funding from Kalaari Capital.

The investment is an extension of the Rs 10 crore investment it raised in October from Inventus Capital. The startup was launched in January this year as a ‘buying club’ for SMEs (small and medium enterprises).

The company aggregates demand from various small enterprises and places a consolidated order with the supplier who provides a lower price for the bigger purchase.

R Narayan, Founder and CEO of Power2sme, said the company will use the funds to scale up operations and expand to new geographies and hire new talent.

Kalaari Capital, which operates a $160 million (about Rs 881 crore) fund, was formed earlier this year by some of the partners behind IndoUS Venture Partners, like Vani Kola and Kumar Shiralagi.