Chennai's KaarTech Raises ₹100 Cr

This funding round follows a $30 million investment from A91 Partners in July 2023, which was KaarTech's first-ever external funding since its founding in 2006. The new capital injection values the Chennai-based firm at approximately ₹2,100 crore (~$231 million) post-money. KaarTech demonstrated significant growth leading up to this investment, with its revenue increasing by 56.8% to Rs 718 crore in FY25 from Rs 458 crore in FY24. The company also achieved profitability in FY25, reporting a net profit of Rs 7.74 crore after a loss of Rs 66.93 crore in the previous fiscal year. The investment comes from Playbook Partners, a growth-stage firm focused on India's digital transformation. Founded by Vikas Choudhury, the firm operates on an "operator-driven" model, with partners who have experience scaling businesses, and targets companies with positive unit economics. With the fresh capital, KaarTech plans to fund capital expenditure, business expansion, and working capital needs. This follows their previously stated goal of expanding in North America, the Middle East, and Europe, partly through inorganic acquisitions, as they aim for a potential public listing. Following this round, A91 Partners remains the largest external shareholder with a 32.78% stake, while Playbook Partners now holds 4.76%. The company's co-founders, Maran Nagarajan, Ratnakumar N, Selvakumaran Manickam, and Guardian George, collectively retain a substantial portion of ownership.