KaarTech raised $30 million in Series B funding. This is the company's first external funding round. The round was led by A91 Partners, a leading venture capital firm in India. Other investors in the round included BlackSoil Capital and Blume Ventures.
KaarTech was valued at $90 million in the funding round. This represents a significant increase from the company's previous valuation of $40 million.
The funds will be used to expand KaarTech's presence in the Middle East, European Union, and North America. The company also plans to use the funds to grow its organic and inorganic growth. This includes acquisitions of smaller companies that can complement KaarTech's offerings.
Gautam Mago and Kaushik Anand from A91 Partners will join KaarTech's board as a part of the deal. Mago is the managing partner of A91 Partners and Anand is a partner at the firm. Both Mago and Anand have extensive experience in the technology industry and will be valuable assets to KaarTech's board.
The funding round is a major milestone for KaarTech and is a sign of the company's strong growth prospects. KaarTech is well-positioned to capitalize on the growing demand for digital transformation services in the global market. With the new funding, KaarTech is well-funded to expand its operations and become a leading player in the digital transformation space.