Digital transformation startup KaarTech raises $30 million in first external funding

economictimes.indiatimes.com:

Digital transformation consulting company KaarTech has raised $30 million as part of fresh funding from A91 Partners. The round marks the first external funding for the company, and is a mix of a primary and secondary raise. As a part of the transaction, Gautam Mago and Kaushik Anand from A91 Partners will join the KaarTech board.

The company said it will use the funds to further its growth across the Middle East, the European Union and North America. It will largely use the funding to make inorganic bets and acquisitions, and build diversified lines of business. Founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M and George Guardian, KaarTech provides IP (internet protocol) and digital services in the SAP ecosystem with expertise in the fields of discrete manufacturing, professional services automation, process manufacturing and consumer packaged goods.

The company claims to have doubled its revenues in the last 24 months. KaarTech, which has been bootstrapped until now, clocked around Rs 350 crore in revenues in FY23. “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.