Power2SME - an Online Platform for SMEs, Raises Funds from Inventus Capital


Bangalore: Power2Sme, a Gurgaon based online platform which simplifies procuring procedures for SMEs has raised Rs 10 Crores from Inventus Capital Partners, with this investment Parag Dhol of Inventus Capital will join the company's board, reports Indiadigitalreview.com.

Power2Sme was founded by R. Narayan with a seed capital of Rs 2 crores; this investment from Inventus Capital will boost the company’s performance as it plans for a rapid expansion in Indian market. The company’s web platform provides online solutions like, eliminating the multitude of vendors, providing easy and flexible payment options, door delivery of goods through reputed logistics provider and being a platform to place orders online 24x7.

“We are strong believers in the potential of India's SME market, and our objective is to expand our business with the ability to cater to SMEs across multiple sectors. The new funds will be used to expand the business and enhance the product offering. We have an aggressive outlook on growth, where we expect to end our first year with annual sales of INR 50 crore, growing to INR 1,000 crores over the next 3 years,” says R. Narayan.

Inventus Capital is a venture capital firm that has been in operation since 1993 and has backed over 100 and more companies in India and Silicon Valley. The company has a list of startups under its belt like – Cbazaar, Sokrati, RedBus, Spotzot and Dhingana.

Parag Dhol, Managing Director, Inventus Capital Partners who would be joining the board of Powe2Sme said, “We fully support power2sme’s vision as a trusted business partner with a mandate to make SMEs more competitive in their business. Backed by a strong leadership team and intimate understanding of the Indian B2B market, power2sme has a huge potential to grow and position itself as an enabler for SMEs. The company has delivered remarkable results in a short span of time, making SME procurement more cost-effective in India.”

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