VCs back India SME group-buying service
Despite there being around 47 million small- and medium-sized enterprises (SMEs) in India, the segment has not yet participated in the country's e-commerce boom. While 51% of online SMEs use the internet to advertise, a mere 27% use it for trade, according to a report by Google and the Federation of Indian Chambers of Commerce and Industry.
"Normally there is an assumption that SMEs will not adopt technology," says Vani Kola, managing director at Kalaari Capital. "But that is not the case in our experience - if you can offer the value for...
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