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Kaartech raises $11 million in Series B funding
Playbook Partners leads round as AI-led firm crosses Rs 1,000 crore revenue mark.
MUMBAI: Kaartech just fuelled its rocket with fresh cash because when you’re already crossing Rs 1,000 crore and running on KTern.AI, the next stage needs serious thrust. KaarTech, a global AI-led enterprise transformation partner, has raised $11 million (approximately Rs 100 crore) in a Series B primary funding round led by Playbook Partners. The round follows the company’s $30 million raise in July 2023 led by A91 Partners.
The fresh capital arrives as Kaartech crosses Rs 1,000 crore in revenue, clocking a 44 per cent compound annual growth rate over the past five years. The growth has been powered by its proprietary platform KTern.AI, which embeds governance and outcome assurance into large-scale enterprise transformations.
The new funds will accelerate Kaartech’s next phase, with focus on deepening AI, data and industry innovation capabilities. The company plans a strategic acquisition to strengthen data engineering and analytics, enabling more powerful AI-driven insights for clients. It will also invest heavily in scaling its AI-led Enterprise Operating System (EOS) platform set to roll out to existing customers in Q2 FY27, with full general availability planned for Q4 FY27. New clients will receive a complimentary AI Readiness Assessment to identify priority use cases, evaluate data readiness and build tailored transformation roadmaps.
Kaartech will expand its global AI Labs, including a new Oil & Gas AI Lab in Houston and additional labs in Bangalore and Chennai focused on CPG & Retail, Engineering & Natural Resources, and Utilities. These labs will develop industry-specific AI solutions and SLM-based foundation models for enterprise use cases.
Kaartech, Founder & CEO Maran Nagarajan said, “This raise marks a defining chapter in Kaartech’s journey. A 4X growth in enterprise value since our Series A reflects the trust placed in us by our employees, customers, partners, and stakeholders. As we drive a clear shift toward an outcome-led Enterprise Operating System, this partnership with Playbook Partners enables us to deepen our Data Engineering and Analytics capabilities, pursue strategic acquisitions, and scale globally.”
Playbook Partners managing partner Vikas Choudhury added, “KaarTech stands out for its deep domain expertise, AI-led transformation capabilities, and strong client relationships. With operations across the US, Europe, and the Middle East, the company has demonstrated remarkable value creation in recent years.”
In a transformation game where most players still chase buzzwords, Kaartech isn’t just raising money, it’s raising the bar, turning AI from a shiny add-on into the actual operating system of enterprise change.
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Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
