2023-07-04 03:05:05
LONDON, May 2 /PRNewswire/ — KaarTech, a global digital transformation consultancy specializing in SAP and S/4 HANA implementations, has raised $30 million from A91 Partners, a leading investment firm headquartered in Mumbai. Gautam Mago and Kaushik Anand from A91 Partners will join KaarTech’s board of directors.
This partnership aims to support KaarTech’s organic and inorganic growth in existing markets in the Middle East, European Union and North America. It marks the beginning of a new chapter in the company’s growth journey, with a focus on establishing a solid presence in North America.
Founded in 2006, KaarTech is a high-growth company specializing in IP and digital services in the SAP ecosystem, with deep expertise in discrete manufacturing, professional services automation, process manufacturing and consumables. With a team of over 2000 employees, KaarTech has doubled its turnover in the last 24 months.
“Partnering with A91 will catapult KaarTech into an unprecedented era of expansion that, despite our humble beginnings, will propel us toward an IPO. This merger will strengthen our ability to expand geographically and grow our service portfolio inorganically. In this way, we aim to be the partner of choice for customers seeking digital transformation in the areas of SAP, cloud ecosystem customer experience, process automation and data analytics, combined with KaarTech’s core competency in logistics, supply chain, finance and human capital management,” said Maran Nagarajan, CEO of KaarTech.
“We are excited regarding the partnership with Kaar Technologies. Over the last ten years they have established themselves as one of the leading partners for digital transformation and SAP consulting services. We look forward to working closely with them to help them expand their geographic footprint in the US and Europe and support them on their journey to becoming a public company,” said Kaushik Anand, Partner at A91.
Veda Corporate Advisors (“Veda”) was the sole financial advisor to the Company and its promoters.
About KaarTech:
Headquartered in Chennai, KaarTech was founded by four college friends from Tamil Nadu. Today, KaarTech operates in over 15 regions worldwide and has successfully completed more than 2500 projects, including several for major customers such as Aramco. KaarTech has won 23 quality awards and is poised to win many more. Also worth noting is the fact that KaarTech places a high value on its employees, reflected in an impressive attrition rate of 3.5%, while the industry turnover rate is over 20%.
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Information regarding A91:
Founded in 2018, A91 Partners is an investment firm investing in the Indian consumer goods, technology, financial services and healthcare sectors. A91 works with entrepreneurs to build enduring businesses for tomorrow’s India. Current investments include Digit General Insurance, Aye Finance, Sugar Cosmetics Atomberg Technologies, Hector Beverages, Videoverse, Exotel, Happilo, Inshorts, La Renon, Shipsy, Healthkart and GIVA.
For more information, see https://a91partners.com/.
Questions & contact:
Ananth Krishnan – Head of Brand Management,
KaarTech,
+91-8148889182,
[email protected]
1688441041
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