Cofounders of KaarTech (L to R): Ratnakumar N, Selvakumaran M, Maran Nagarajan, George Guardian Digital transformation consulting company KaarTech has raised $30 million at a valuation of around $90 million from A91 Partners. The deal marks the first external funding for KaarTech. It raised more than 80% of the fund in this round by issuing fresh shares, while the rest was through a secondary sale of shares by founders and employees. As a part of the deal, Gautam Mago and Kaushik Anand from A91 Partners will join KaarTech’s board. KaarTech said the proceeds to the company will be used to further its growth in the Middle East, the European Union and North America. In an interaction with ET, founder and chief executive Maran Nagarajan said it will use a predominant portion of the capital to make inorganic bets and acquisitions in the North American and European markets, as it looks to diversify its service offerings. It has plans to make almost three acquisitions between FY23 and FY24, Nagarajan said. Founded in 2006 by Nagarajan, Ratnakumar N, Selvakumaran M and George Guardian, KaarTech provides IP (intellectual property) and digital services in the SAP ecosystem with expertise in the fields of […]
Click here to view original web page at economictimes.indiatimes.com
