Chennai-based enterprise infrastructure firm KaarTech has raised $11 million in a new funding round led by growth-stage investor Playbook Partners. This investment brings Playbook on board alongside existing backers, including Mumbai’s A91 Partners, which holds about 30% stake after investing $30 million in 2023.
Valuation and Expansion Strategy
The latest round values KaarTech at Rs 2,000 crore. The company intends to use the funds to expand operations in North America and Europe, hire talent in these regions, and pursue acquisitions to bolster its product offerings.
“This raise marks a significant step towards an IPO as we shift to an outcome-led enterprise operating system, where AI, data, and enterprise platforms come together to deliver measurable business impact,” stated Maran Nagarajan, CEO of KaarTech.
Investor Insights
Vikas Choudhury, managing partner at Playbook Partners, highlighted KaarTech’s role in assisting major enterprises with cloud migrations from on-premises systems and preparing them for AI integration. Choudhury previously served as president at Reliance Jio from 2017 to 2022 and launched the fund in 2024.
“They can actually ride the AI wave; they are not a typical software firm writing code. They help with cloud migration, data applications, and cloud infrastructure—a space with huge growth opportunities,” Choudhury noted.
Company Profile and Clients
Established in 2005, KaarTech provides an enterprise operating system to global giants such as Saudi Aramco, Google, Mitsubishi Electric, and Booking.com. Despite its Indian roots, the firm generates all revenue from Gulf countries, North America, and Europe. It specializes in domain expertise for aviation, energy, and government sectors.
Financial Growth
KaarTech has achieved a 44% compound annual growth rate over the past five years and projects revenues exceeding Rs 1,000 crore by the end of FY26. In FY25, it posted a net profit of Rs 7.7 crore on Rs 726 crore in revenue. The FY24 loss of Rs 67 crore stemmed from heavy investments in North American expansion.
“The company has returned to profitability and remains on course for over Rs 100 crore in profit after tax by FY27,” Choudhury affirmed.
