Digital transformation consulting company KaarTech has raised around $11 million (Rs 100 crore) from Playbook Partners, the backer of Renee Cosmetics. The new round came on the back of its profitability and 56% year-on-year growth in FY25, with revenue surpassing Rs 700 crore.

KaarTech’s regulatory filings with the Registrar of Companies (RoC) show that its board approved the issuance of 4,00,520 Series B CCPS at an issue price of Rs 2,496.75 apiece to raise Rs 100 crore from Playbook Partners. The proceeds will be utilised towards capital expenditure, business expansion, and general working capital requirements, the filings said.

The proceeds will be utilised towards capital expenditure, business expansion, and general working capital requirements, as per filings.

A91 Partners continued to be the largest external shareholder with a 32.78% stake, while Playbook Partners held 4.76% following the allotment of this round. The company’s co-founders Maran Nagarajan, Ratnakumar N, Selvakumaran Manickam, and Guardian George held 14.90%, 9.99%, 7.31%, and 8.01% stakes, respectively. The Chennai-based firm’s revenue grew 56.8% to Rs 718 crore in FY25 from Rs 458 crore in FY24. It also turned profitable in FY25, reporting a net profit of Rs 7.74 crore in FY25 compared to a loss of Rs 66.93 crore in FY24.

About KaarTech

KaarTech has been founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M and Guardian George. KaarTech is a technology and consulting company focused on SAP-led digital transformation. It provides SAP implementation and support, cloud and data services, AI and automation, analytics, and managed services to help enterprises manage and optimize business ops.