A $11 million funding round for corporate technology company KaarTech is led by Playbook Partners

KaarTech, an enterprise infrastructure firm headquartered in Chennai, has raised $11 million in fresh funding from growth-stage investment firm Playbook Partners. Following this investment, Playbook Partners joins existing backer A91 Partners, which currently holds around 30% stake in the company after investing $30 million in 2023. The latest funding round values KaarTech at about ₹2,000 crore.

With the new capital, KaarTech plans to expand its presence in North America and Europe, increase talent hiring in those regions, and pursue acquisitions that can strengthen its product stack. According to CEO Maran Nagarajan, the funding is also an important step toward the company’s future IPO plans as it moves toward building an outcome-led enterprise operating system integrating AI, data and enterprise platforms.

Speaking about the investment, Vikas Choudhury, managing partner at Playbook Partners, said the company helps large enterprises migrate systems from on-premises infrastructure to the cloud and prepare their technology stack to be AI-ready. Choudhury previously served as president at Reliance Jio from 2017 to 2022 before launching Playbook Partners in 2024.

Founded in 2005, KaarTech provides enterprise operating system solutions to global clients such as Saudi Aramco, Google, Mitsubishi Electric, and Booking.com. The company focuses on cloud migration, data applications, and cloud infrastructure, helping enterprises modernise their systems and adopt AI capabilities.

Although based in India, 100% of KaarTech’s revenue comes from international markets, particularly the Gulf region, North America and Europe. The company specialises in serving large enterprises in aviation, energy and government sectors with domain-specific technology systems.

KaarTech has grown at a 44% compound annual growth rate over the last five years and is expected to cross ₹1,000 crore in revenue in FY26. In FY25, the company reported ₹726 crore in revenue with a net profit of ₹7.7 crore. In FY24, it had posted a ₹67 crore loss, mainly due to higher expenses related to expanding its North American operations.

According to Choudhury, the company has returned to profitability and is on track to report more than ₹100 crore in profit after tax by FY27.