KaarTech raises $11 Mn led by Playbook Partners

Digital transformation consulting company KaarTech has raised $11 million (about Rs 100 crore) in a funding round led by Playbook Partners. The round also saw participation from existing backer A91 Partners. 

Entrackr had exclusively reported the current round last week.

According to Entrackr’s estimates, KaarTech is valued at around Rs 2,100 crore or around $231 million (post-money). In July 2023, KaarTech raised $30 million from A91 Partners.

As per an ET report, the proceeds will be used to expand KaarTech’s presence in North America and Europe, strengthen hiring in those regions, and explore acquisitions that can enhance its product stack.

Founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M and Guardian George, the company helps enterprises migrate legacy systems to cloud-based infrastructure and build AI-ready technology stacks.

KaarTech provides SAP-led digital transformation services to enterprises, including cloud migration, data platforms, AI and automation, analytics, and managed services. The company works with large global clients across sectors such as aviation, energy and government.

The Chennai-based firm’s revenue grew 56.8% to Rs 718 crore in FY25 from Rs 458 crore in FY24. It also turned profitable in FY25, reporting a net profit of Rs 7.74 crore in FY25 compared to a loss of Rs 66.93 crore in FY24.

The company primarily serves international markets, including the Gulf region, North America and Europe, and is targeting revenue of more than Rs 1,000 crore in FY26.