PE-VC Fund Investments
SAP-focused consulting co. KaarTech raises Rs.100-Cr from Playbook Partners
Chennai-based SAP implementation focused IT Services company KaarTech has raised around USD 11 million (INR 100 crore) from Playbook Partners (in return for a 4.76% stake).KaarTech will issue 4,00,520 Series B CCPS (compulsorily convertible preference shares) at INR 2,496.75 apiece to raise the sum. KaarTech is valued at around INR 2,100 crore or USD 231 million (post-money). The funding proceeds will be used towards capital expenditure, business expansion, and general working capital requirements.Following the latest round, A91 Partners (which, in July 2023, had invested USD 30 million) continues to be the largest external shareholder in Kaar with a 32.78% stake. The company’s co-founders Maran Nagarajan, Ratnakumar N, Selvakumaran Manickam, and Guardian George held 14.90%, 9.99%, 7.31%, and 8.01% stakes, respectively.Founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M and Guardian George, KaarTech grew its revenues by 56.8% to INR 718 crore in FY25 from INR 458 crore in FY24. It also turned profitable in FY25, reporting a net profit of INR 7.74 crore in FY25 compared to a loss of INR 66.93 crore in FY24.
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