Indian tech firm KaarTech is plotting huge expansion in the UK after raising $30 million in funding.
The global digital transformation consultancy specialises in IP and digital services in the SAP ecosystem with deep expertise in discrete manufacturing, professional services automation, process manufacturing and consumer packaged goods.
It employs 20 people at its base in Huddersfield, West Yorkshire, and currently generates $2 million in annual revenue on these shores.
The company told BusinessCloud that it plans to shortly open an office in London. By 2030, it aims to grow its UK team to 300 and generate $50m turnover.
“The UK is the second largest market for SAP in the EU after Germany,” a spokesperson said. “The mid-market companies in the UK are close to about 10,000 in number. This is a huge number and a large part of them have not started their digital transformation journey.
“We have started hiring local talent from universities in the UK. We also have started hiring sales leadership, local business development managers and lead generation teams who will be based in the UK.”
Headquartered in Chennai, KaarTech was started by four college friends from Tamil Nadu in 2006. Today, its operations extend to 15+ global regions, having successfully executed over 2,500 projects. Several of them have been for marquee customers like Aramco.
With a team of over 2,000 employees, KaarTech has doubled its revenue in the last 24 months.
The new investment comes from A91 Partners, an investment firm headquartered in Mumbai. Gautam Mago and Kaushik Anand from A91 Partners will join the board of KaarTech.
This partnership aims to fuel KaarTech’s organic and inorganic growth across existing markets in the UK, the European Union, Middle East and North America. It marks the beginning of a new chapter in its growth journey, particularly emphasising establishing a solid presence in North America.
“The partnership with A91 will catapult KaarTech into an unprecedented era of expansion, propelling us towards our aspiration of going public, despite our humble bootstrapped origins,” said CEO Maran Nagarajan.
“This association will bolster our ability to expand geographically and augment our services portfolio inorganically.”
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