Chennai-based Kaar Technologies on Tuesday said it has raised Rs 30 crore (about USD 4 million) in acquisition financing facility from BlackSoil Capital to fuel its inorganic international expansion plans. Kaar Tech will use the funds raised for inorganic expansion in the United States of America, thereby strengthening its presence in North America, a statement said.
Founded in 2005, Kaar Tech offers consultation, implementation, and support of SAP-based enterprise software solutions to enterprises across the world to improve their business processes. It is one of the largest pure-play SAP players that partners with customers in the US, the UK, Bahrain, Kingdom of Saudi Arabia, Kuwait, Qatar, Oman, and the UAE.
With an employee strength of more than 950, Kaar Tech has offered services to over 350 clients across verticals like manufacturing, oil and gas, public sector, wholesale distribution, and retail among others. “The evolving business landscapes have led to the emergence of multiple growth opportunities for Kaar Tech to tap into. With the current landscape of SAP and projected adoption of SAP-driven Digital Transformation, we are quite confident of our growth in the North American subcontinent,” Kaar Tech founder and Chief Executive Officer Maran Nagarajan said.
With COVID-19 acting as a catalyst to a paradigm shift in digitalisation, Kaar Tech is in a prime position to capitalise on this demand, Ankur Bansal, co-founder of Blacksoil, said. “Along with a strong history of successful implementations and robust management, we look forward to supporting them in their journey. We are also excited about their planned acquisition in the US which will facilitate Kaar Tech to quickly increase its foothold in North America,” he added.
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