KaarTech has secured $11 million (approximately Rs 100 crore) in a new funding round headed by Playbook Partners, as the enterprise technology firm aims to boost growth and enhance its international presence, according to reports.

Established in 2006, the Chennai-based company focuses on SAP-driven digital transformation services for businesses. Its services comprise SAP implementation and support, cloud and data solutions, AI-powered automation, analytics, and managed services.

As per regulatory documents, the firm sanctioned the release of 4,00,520 Series B compulsorily convertible preference shares (CCPS) at a price of Rs 2,496.75 each to secure funding from Playbook Partners.

The new capital will be used for capital investments, business growth, and general working capital needs as the company enhances its enterprise technology skills and international operations.

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The investment values KaarTech at roughly Rs 2,100 crore (about $ 231 million) on a post-money basis. In early 2023, the firm secured $30 million from A91 Partners to aid its growth efforts.

KaarTech has announced significant financial advancement, with revenue increasing approximately 56 percent year-over-year to Rs 718 crore in FY25, up from Rs 458 crore in the last fiscal year. The business became profitable within the year, showcasing a net profit of Rs 7.74 crore in contrast to a loss in FY24.

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Established by Maran Nagarajan, Ratnakumar N, Selvakumaran Manickam, and Guardian George, KaarTech aims to assist businesses in managing and enhancing their operations via digital transformation technologies.

The investment indicates persistent investor enthusiasm for enterprise technology and digital transformation firms as companies progressively embrace cloud, AI, and data-oriented solutions to enhance their operations.

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Managing partner Vikas Choudhury of Playbook Partners stated that the firm is assisting major enterprise clients in transitioning their systems from on-premises infrastructure to the cloud. It is also assisting these firms in becoming prepared for AI.