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