Chennai-based digital transformation consulting firm, KaarTech, has secured a substantial $30 million investment from A91 Partners, a Mumbai-based investment firm. The funding is aimed at fueling KaarTech’s organic and inorganic growth in the Middle East, European Union, and North American markets.
In an official announcement, KaarTech revealed that Gautam Mago and Kaushik Anand from A91 Partners will be joining its board. This strategic partnership is expected to strengthen the startup’s position in its existing markets and facilitate its expansion plans, with a particular focus on establishing a strong presence in North America.
Maran Nagarajan, the Founder and CEO of KaarTech, expressed enthusiasm for the collaboration, stating, “The partnership with A91 will catapult KaarTech into an unprecedented era of expansion, propelling us towards our aspiration of going public, despite our humble bootstrapped origins. This association will bolster our ability to expand geographically and augment our services portfolio inorganically.”
KaarTech, founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumar M, and George Guardian, is known for its specialization in IP and digital services within the SAP ecosystem. The company has a strong expertise in areas like discrete manufacturing, professional services automation, process manufacturing, and consumer packaged goods.
“We aspire to be the partner of choice for customers looking for digital transformation journeys in SAP, cloud ecosystem customer experience, process automation, and data analytics blended with KaarTech’s core competence in logistics, supply chain, financial, and human capital management,” Nagarajan explained.
With a team of over 2,000 employees, KaarTech claims to have doubled its revenue in the last 24 months, a testament to its commitment to excellence and client satisfaction.
A91 Partners, the investment firm backing KaarTech, expressed their eagerness to support the consulting startup’s expansion plans. “We look forward to working closely with them in helping them expand their geographic presence in the US and Europe, and in their journey towards becoming a publicly listed company,” said A91 Partners.
Veda Corporate Advisors played a pivotal role in the deal, acting as the exclusive financial advisor to KaarTech and its promoters.
The funding from A91 Partners marks a significant milestone for KaarTech, propelling the Indian startup into a new phase of growth and solidifying its position as a key player in the global digital transformation consulting industry. With a strong vision and a solid foundation, KaarTech is well-equipped to continue its upward trajectory in the highly competitive market of digital services and consulting.
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