KaarTech a digital transformation consulting company Raises $30 Million in Funding
KaarTech, a leading digital transformation consulting company, has successfully raised $30 million in a recent funding round led by A91 Partners. This marks the first external funding received by the company and includes a mix of primary and secondary raise. As part of the transaction, Gautam Mago and Kaushik Anand from A91 Partners will join the KaarTech board.
The funds raised will be utilized by KaarTech to fuel its growth across key regions, including the Middle East, the European Union, and North America. The company plans to focus on making strategic acquisitions and diversifying its lines of business to further strengthen its position in the market.
Established in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M, and George Guardian, KaarTech specializes in providing intellectual property (IP) and digital services within the SAP ecosystem. The company excels in areas such as discrete manufacturing, professional services automation, process manufacturing, and consumer packaged goods. KaarTech has witnessed remarkable growth in recent years, with its revenues doubling in the last 24 months. Despite being bootstrapped until now, the company reported revenues of around Rs 350 crore in FY23.
Expressing his excitement about the partnership with A91 Partners, Maran Nagarajan, CEO of KaarTech, stated, “The partnership with A91 will launch 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. In doing so, 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.”
With operations spanning across 15 global regions, KaarTech has successfully executed over 2,500 projects, catering to esteemed clients like Aramco. Commenting on the investment, Kaushik Anand, Partner at A91, highlighted the company’s strong performance and growth trajectory, saying, “The company was founded in 2006 and has been focused on SAP consulting. They’ve had faster growth in the last few years due to their success in working with the large trends in SAP S/4 HANA and cloud implementation. We believe that this trend is here to stay over the next decade as they diversify the business. We wanted to invest in founders who want to build out the business in the coming years and take it public versus looking to get acquired.”
KaarTech, which has consistently delivered profits over the years, is gearing up for a public listing, showcasing its ambition to achieve long-term success in the industry.
The funds raised will be utilized by KaarTech to fuel its growth across key regions, including the Middle East, the European Union, and North America. The company plans to focus on making strategic acquisitions and diversifying its lines of business to further strengthen its position in the market.
Established in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M, and George Guardian, KaarTech specializes in providing intellectual property (IP) and digital services within the SAP ecosystem. The company excels in areas such as discrete manufacturing, professional services automation, process manufacturing, and consumer packaged goods. KaarTech has witnessed remarkable growth in recent years, with its revenues doubling in the last 24 months. Despite being bootstrapped until now, the company reported revenues of around Rs 350 crore in FY23.
Expressing his excitement about the partnership with A91 Partners, Maran Nagarajan, CEO of KaarTech, stated, “The partnership with A91 will launch 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. In doing so, 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.”
With operations spanning across 15 global regions, KaarTech has successfully executed over 2,500 projects, catering to esteemed clients like Aramco. Commenting on the investment, Kaushik Anand, Partner at A91, highlighted the company’s strong performance and growth trajectory, saying, “The company was founded in 2006 and has been focused on SAP consulting. They’ve had faster growth in the last few years due to their success in working with the large trends in SAP S/4 HANA and cloud implementation. We believe that this trend is here to stay over the next decade as they diversify the business. We wanted to invest in founders who want to build out the business in the coming years and take it public versus looking to get acquired.”
KaarTech, which has consistently delivered profits over the years, is gearing up for a public listing, showcasing its ambition to achieve long-term success in the industry.
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