Power2SME, Buying Club for small and medium enterprises (SMEs) in India raised around $20 million in it’s Series D funding.
Brief about the company
Power2SME is the first ‘Buying Club’ for small and medium enterprises (SMEs) in India. Focus is on reducing SME’s purchase prices and increasing productivity by taking on the role of sourcing input raw materials at the most competitive price points across multiple products in categories like Chemicals, Metals & Polymers.
Company is founded by R Narayan in 2012.
Infosys co-founder Nandan Nilekani and three venture capital (VC) funds –Accel Partners, Kalaari Capital and Inventus Capital -have invested in a new round in Power2SME.