Tech consulting firm KaarTech, specializing in SAP and S/4 HANA implementation, has successfully raised $30 million in funding from A91 Partners. This marks KaarTech’s first equity raise since its establishment in 2006, and the company plans to utilize the funds to drive organic and inorganic growth across its existing markets in the Middle East, the European Union, and North America. Furthermore, the investment will help solidify its presence in the American market and support its aspirations to pursue an initial public offering (IPO) in the near future.
With a specific focus on discrete manufacturing, professional services automation, process manufacturing, and consumer packaged goods verticals, KaarTech specializes in intellectual property (IP) and digital services within the SAP ecosystem. Over the past two years, the company has witnessed significant growth, doubling its revenue. For the fiscal year 2023, KaarTech’s revenue is estimated to be around Rs 300 crore.
Operating in more than 15 global regions, KaarTech has successfully executed over 2,500 projects, serving prestigious clients such as Aramco. The company is well-positioned for further expansion as a growing number of organizations using SAP’s legacy systems face imminent deadlines to migrate to cloud deployments by 2027. This creates a considerable demand for implementation projects, which KaarTech aims to capitalize on in the coming years.
Maran Nagarajan, the founder and CEO of KaarTech, sees the partnership with A91 Partners as a significant opportunity to support the company’s ambition of going public. Nagarajan stated, “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 blended with KaarTech’s core competence in logistics, supply chain, financial, and human capital management.”
The investment from A91 Partners will not only fuel KaarTech’s growth strategy but also enhance its capabilities to offer a broader range of services and expand its geographical footprint. By strengthening its position in the market, KaarTech aims to become the preferred partner for organizations embarking on digital transformation journeys in areas such as SAP, cloud ecosystems, customer experience, process automation, and data analytics. Leveraging its core expertise in logistics, supply chain management, financial management, and human capital management, KaarTech is well-equipped to deliver comprehensive solutions that meet the evolving needs of its clients.
As KaarTech continues to thrive in the tech consulting industry, the collaboration with A91 Partners will provide valuable support in its pursuit of geographic expansion and service diversification. With a focus on digital transformation and innovation, KaarTech remains committed to helping organizations navigate the evolving technology landscape and achieve their strategic objectives.
