PE Fund Investments
SAP services specialist Kaar Tech attracts $30-M from A91 Partners
Chennai-based IT Services company Kaar Technologies, specialising in SAP implementation, has raised equity capital of INR 240 crore (about USD 30 million) from growth capital investor A91 Partners. Gautam Mago and Kaushik Anand from A91 will join the board of the company. Veda Corporate Advisors was the exclusive financial advisor to Kaar Tech and its promoters on the transaction. Founded in 2006, Kaar Tech has expertise in implementing SAP products for verticals like discrete manufacturing, professional services automation, process manufacturing and consumer packaged goods. With over 2,000 employees, Kaar Tech has doubled its revenue in the last 24 months. The new investment will fuel Kaar Tech's growth across existing markets in the Middle East, the European Union and North America.
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