KaarTech raises over Rs 100 cr from Playbook Partners, others

New Delhi, Mar 9 (PTI) AI startup KaarTech on Monday said it has raised USD 11 million, about Rs 101 crore, in a funding round led by Playbook Partners.

The company plans to use the fund on strategic acquisitions in data engineering and analytics, and expand footprints in North America and Europe, building towards a public listing.

"KaarTech, an AI transformation partner specializing in architecting end-to-end Enterprise Operating Systems (EOS) across applications, data and cloud, has raised USD 11 million in its Series B primary funding round led by Playbook Partners," the company said in a statement.

KaarTech has delivered around a 45 per cent compounded annual growth rate and has crossed Rs 1,000 crore in revenue, it said.

The latest funding marks a defining chapter in KaarTech's journey towards an IPO. This reflects the trust placed in us by our employees, customers, partners, and stakeholders, and the discipline with which we have executed our strategy. "This partnership with Playbook Partners enables us to further accelerate our growth globally," KaarTech, Founder and CEO Maran Nagarajan said.

Playbook Partners Managing Partner Vikas Choudhury said that KaarTech is a truly global player which has demonstrated exemplary value creation over the last few years. "We believe KaarTech is uniquely positioned to capitalise on surging demand for AI-enhanced enterprise capabilities." PTI PRS HVA