Chennai based Pure-Play SAP digital transformation consulting and services partner, Kaar Technologies has raised $4.36 million (Rs 30 Crores) in acquisition financing facility from BlackSoil Capital to fuel its inorganic international expansion plans.
“Kaar Tech will use the raised funds for inorganic expansion in the United States of America, thereby strengthening their presence in North America,” the 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.
Speaking on the fundraise, Maran Nagarajan, Founder & CEO of Kaar Tech said, “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. With the acquisition financing facility from Blacksoil, we look forward to building on the relationship with them over the coming years.”
Commenting on the investment, Ankur Bansal, Co-founder of Blacksoil said, “One of the foremost by-products of COVID – 19 was the imminent need to digitize work and enable a hybrid work from home/office model. With COVID-19 acting as a catalyst to a paradigm shift in digitalization, Kaar Tech is in a prime position to capitalize on this demand.”
“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,” Bansal added.