California-based digital transformation solutions company UST has come on board as an investor to back Mumbai-based Uniqus Consultech, a tech-enabled platform that is backed by Nexus Venture Partners and Sorin Investments.
This investment is part of a $10 million series B funding round that Uniqus had announced in April this year. The round was backed by its existing investors.
Uniqus offers consulting solutions across several domains such as accounting and reporting, finance operations, governance, risk, ESG and tech.
“As a part of the strategic collaboration, UST will leverage Uniqus’ extensive practical experience in the areas of finance, risk, and sustainability to identify and implement the best digital solutions for its clients,” the company said in a release.
Uniqus was co-founded by consulting veterans Jamil Khatri and Sandip Khetan. Launched a little over a year back, the company has 11 centres across India, the US and the Middle East. It has a team of 500 employees with more than 50 partners and directors.
In April the consulting firm had said that it plans to hit a revenue target of $100 million by 2026 and $150 million by 2027 and that it was looking to expand its operations to countries like Canada and Qatar.
“Organizations want technology to enable them in solving business problems effectively and get real benefits. UST’s transformative engineering and innovative ecosystem in combination with Uniqus’ deep domain experience on sustainability, finance, and risk will elevate our product and service offering to clients across the globe,” Khtri said.
It serves more than 200 clients including HDFC Bank, Reliance Industries, Al Rajhi Group, Arab National Bank, The National Shipping Company of Saudi Arabia (Bahri), Burjeel Holding, Tawal, Flipkart, GE and GAP.
“Corporate sustainability, responsible business practices, and ESG consulting have become integral to building a comprehensive modern corporate strategy, and integrating Uniqus’ ESG capabilities into our portfolio will enable UST to serve our clients better and differentiate ourselves in an increasingly competitive landscape,” said Vijay Padmanabhan, chief financial officer, UST.
