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KaarTech raises $11 Mn led by Playbook Partners

EntrackrEntrackr ยท 8d ago
KaarTech raises $11 Mn led by Playbook Partners
Medial

News All Stories KaarTech raises $11 Mn led by Playbook Partners Digital transformation consulting company KaarTech has raised $11 million (about Rs 100 crore) in a funding round led by Playbook Partners. The round also saw participation from existing backer A91 Partners. Entrackr had exclusively reported the current round last week. According to Entrackrโ€™s estimates, KaarTech is valued at around Rs 2,100 crore or around $231 million (post-money). In July 2023, KaarTech raised $30 million from A91 Partners. As per an ET report, the proceeds will be used to expand KaarTechโ€™s presence in North America and Europe, strengthen hiring in those regions, and explore acquisitions that can enhance its product stack. Founded in 2006 by Maran Nagarajan, Ratnakumar N, Selvakumaran M and Guardian George, the company helps enterprises migrate legacy systems to cloud-based infrastructure and build AI-ready technology stacks. KaarTech provides SAP-led digital transformation services to enterprises, including cloud migration, data platforms, AI and automation, analytics, and managed services. The company works with large global clients across sectors such as aviation, energy and government. The Chennai-based firmโ€™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. The company primarily serves international markets, including the Gulf region, North America and Europe, and is targeting revenue of more than Rs 1,000 crore in FY26.

Exclusive: KaarTech raises Rs 100 Cr from Playbook Partners

EntrackrEntrackr ยท 14d ago
Exclusive: KaarTech raises Rs 100 Cr from Playbook Partners
Medial

Exclusive: KaarTech raises Rs 100 Cr from Playbook Partners 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. KaarTechโ€™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. According to Entrackrโ€™s estimates, KaarTech is valued at around Rs 2,100 crore or around $231 million (post-money). In July 2023, KaarTech raised $30 million from A91 Partners. 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 services like SAP implementation and support, cloud and data services, AI and automation, analytics, and managed services to help enterprises manage and optimize business operations. 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 companyโ€™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 firmโ€™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.

A91 Partners closes $665 Mn Fund III

EntrackrEntrackr ยท 10m ago
A91 Partners closes $665 Mn Fund III
Medial

A91 Partners has announced the final close of its third fund at $665 million. With Fund III, A91 plans to continue backing growth-stage businesses and supporting founders with scale and strategic capital. โ€œWe started A91 in 2018 with the following beliefs - patient capital will play an important role in accelerating value creation in Indian businesses across sectors. We also believed in the opportunity to create a world-class Indian investment firm - for founders who are aiming to build large enduring businesses from India. All these beliefs have been strengthened over the last 6 years,โ€ said A91 Partners in a Linkedin post. Founded in 2018 by former Peak XV partners Gautam Mago, Abhay Pandey, Kaushik Anand, and VT Bharadwaj, A91 Partners was created to support Indian entrepreneurs building long-term businesses. The firm focuses on investing across sectors such as consumer, healthcare, financial services, and technology. The firm said it remains committed to being a long-term partner to both founders and Limited Partners as it continues to grow its presence in the Indian private equity landscape. A91 Partners has also made investments in sectors like coffee, spices, and home appliances, including backing brands such as Atomberg. It led a $30 million Series B funding round in Blue Tokai Coffee Roasters. The firmโ€™s portfolio includes companies like Digit Insurance, Inshorts, Sugar Cosmetics, Exotel, Healthkart, Paper Boat, and Plum, among others. Go Digit General Insurance, one of A91โ€™s portfolio companies, went public last year. In a recent disclosure, the International Finance Corporation (IFC) said that it is considering an investment of up to $35 million in A91 Partnersโ€™ third fund, with the possibility of committing an additional $30 million for co-investment opportunities.

Rare Rabbit raises $18 Mn from A91 Partners, Zerodha foundersโ€™ fund, others

EntrackrEntrackr ยท 1y ago
Rare Rabbit raises $18 Mn from A91 Partners, Zerodha foundersโ€™ fund, others
Medial

New-age fashion brand Rare Rabbit has raised Rs 150 crore (approximately $18 million) in primary capital led by A91 Partners. This is the maiden institutional investment for a Bengaluru-based company since its inception in 2015. The board at Rare Rabbit has passed a special resolution to issue 69,230 compulsory convertible preference shares at an issue price of Rs 21,670 each to raise Rs 150 crore, its regulatory filings accessed from the Registrar of Companies show. A91 Partners led the round with Rs 102 crore while Zerodhaโ€™s founders NKSquared injected Rs 29 crore. Gruhas Proptech, Ravi Modi Family Trust, and Vendant Modi cumulatively participated with Rs 18.92 crore during the investment. As per TheKredibleโ€™s estimates, the company has been valued at around Rs 2,350 crore or $283 million post-allotment. Following the fresh proceeds, the A91 emerging fund will hold 9.65% of the capital while NKSquared and Ravi Modi Family Trust will get 4.15% and 2.13% of the stake in the company, the filing further added. This appears to be a part of a larger round as Rare Rabbit was in talks to raise Rs 500 crore led by A91 partners. Inc42 reported the development first. Rare Rabbit is a high-end fashion brand specializing in designer clothing for men and women. The brand operates more than 100 stores across India and offers collections through its online store. Rare Rabbit demonstrated rapid growth, which is evident from its revenue that scaled 72.3% to Rs 381 crore in FY23 with a positive bottom line of Rs 32 crore in FY23. The company reportedly clocked a revenue of Rs 600 crore in FY24. Rare Rabbit competes with brands like Souled Store, which raised around $29 million and achieved a revenue of Rs 235 crore in FY23. Its other competitors Snitch and WROGN also raised $13 million and $15 million in December 2023 and June respectively. In the past couple of months, a clutch of fashion and apparel brands have raised their maiden institutional round. In May, A91 Partners led a $21 million round in TechnoSport whereas Libas raised $18 million led by ICICI Ventureโ€™s fund.

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