Brands
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.
Brands
Estée Lauder to shed 10,000 jobs as new boss bets on digital shift
The cosmetics giant raises its profit outlook but stays silent on a possible merger with Spain’s Puig, as job cuts deepen and a three-year sales slump weighs on the turnaround
NEW YORK: Stéphane de La Faverie is not done cutting. Estée Lauder announced on Friday that it plans to eliminate as many as 3,000 additional jobs, taking its total redundancy programme to as many as 10,000 roles, up from a previous target of 7,000 announced a year ago. The company, which owns La Mer, The Ordinary, Tom Ford, and Aveda, employs roughly 57,000 people worldwide. The mathematics of what is now being contemplated is stark.
The fresh round of cuts is expected to generate a further $200 million in savings, bringing the total annual savings from the programme to as much as $1.2 billion before taxes. That money, De La Faverie has made clear, will be ploughed back into the turnaround.
A CEO in a hurry
De La Faverie, who took the helm in January 2025, inherited a company that had endured three consecutive years of annual sales declines. His response has been to move fast and cut deep. A significant portion of the latest redundancies reflects his push to reduce headcount at US department stores, long a cornerstone of Estée Lauder’s distribution model but now a channel in structural decline. In their place, he is accelerating the shift toward faster-growing online platforms, including Amazon.com and TikTok Shop, a pivot that is reshaping not just where Estée Lauder sells but how it thinks about its customers.
The numbers are moving in the right direction
Despite the pain, there are signs the medicine is working. Estée Lauder raised its profit outlook for the remainder of the fiscal year, guiding for adjusted earnings per share in the range of $2.35 to $2.45, above analyst estimates and a notable step up from the $2.05 to $2.25 range it had guided for in February. Organic net sales growth is expected to come in at 3 per cent, the company said, at the high end of the range it set out in February.
The share price tells a mixed story. After De La Faverie took charge, the stock surged nearly 60 per cent, buoyed by investor optimism that a longtime company insider could finally arrest the decline. But 2026 has been rougher: the shares have fallen 27 per cent this year, weighed down by disappointing February results and the overhang of unresolved merger talks with Spanish beauty giant Puig Brands SA. The company gave no additional details about those discussions on Friday, leaving the market to guess.
Silence on Puig
The proposed tie-up with Puig remains the most consequential unknown hanging over Estée Lauder. A deal with the Barcelona-based group, which owns brands including Carolina Herrera and Rabanne, would reshape the global luxury beauty landscape. But with nothing new to say and a turnaround still very much in progress, De La Faverie is asking investors to trust the process.
Three years of sales declines, 10,000 job cuts, and a merger that may or may not happen. At Estée Lauder, the overhaul has barely started.
