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KaarTech, a business-to-business (B2B) digital consulting start-up, said on Monday it has raised $30 million in funding from A91 Partners.
KaarTech will use the funds to expand in West Asia and the European Union and to enter the North American market, it said in a statement. Gautam Mago and Kaushik Anand, partners at A91, will join KaarTech’s board.
“This association will bolster our ability to expand geographically and augment our services portfolio in-organically,” said Maran Nagarajan, KaarTech’s founder and chief executive officer.
“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 blended with KaarTech’s core competence in logistics, supply chain, financial and human capital management,” he said.
Veda Corporate Advisors acted as the exclusive financial advisor to the company and its promoters for the deal.
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KaarTech was founded in 2006 by Nagarajan and Ratnakumar N, Selvakumar M and George Guardian, who are directors in the company. It specialises in the SAP ecosystem, manufacturing, professional services automation, and consumer packaged goods.
The Chennai-based company has more than 2,000 employees and said it has doubled its revenue in the last 24 months.
“Over the last decade, they (KaarTech) have established themselves as one of the leading partners for digital transformation and SAP Consulting Services. 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 Anand, of A91 Partners.
KaarTech has operations in over 15 global regions, with notable clients such as Aramco. The company says it is looking to go beyond SAP as it eyes a public listing.
