KaarTech, a digital transformation consulting company headquartered in Chennai, India, has raised $30 million in fresh funding from growth-stage investor A91 Partners.
As a part of the transaction, which marks its first external funding, will see both Gautam Mago and Kaushik Anand from A91 Partners join the KaarTech board.
The funding is a mix of primary and secondary raise.
Founded in 2006, KaarTech will use the corpus to facilitate its growth plans across the Middle East, European Union, and North America through the inorganic route.
KaarTech is a digital transformation consulting firm that provides IP (intellectual property) and digital services in the SAP ecosystem. It claims to have clocked revenues of around Rs 350 crore in FY23, thereby doubling it in the last 24 months.
KaarTech had been bootstrapped until now.
A91 Partners, floated by former Sequoia Capital executives VT Bharadwaj, Gautam Mago, and Abhay Pandey, primarily invests in four sectors — financial services, consumer, healthcare and software.
It is currently investing from its second fund which was raised in 2021 with a corpus of $550 million. Its first fund raised in 2019 at $350 million has made 14 investments.
Its portfolio companies include Blue Tokai, India’s speciality coffee brand; consumer nutrition platform HealthKart; and Eatclub, which operates a chain of Internet-first kitchens offering multi-cuisine food.