Uniqus Consultech raises $10 million in Series B funding from Nexus, Sorin

Uniqus Consultech raises $10 million in Series B Funding from Nexus, Sorin

Uniqus Consultech, a tech-enabled global platform that offers ESG and accounting and reporting consultation, on Thursday said that it has raised $10 million in Series B funding from existing investors Nexus Ventures and Sorin Investments, the company said in a press statement.

The consulting firm co-founded by consulting veterans Jamil Khatri and Sandip Khetan and launched just a year ago has scaled up significantly with offices in eight cities across the US, India, and the Middle East. The firm has over 350 professionals, led by 40 partners and directors, serving more than 150 clients. Uniqus has also launched an AI assistant for financial reporting and ESG, and a tech platform for ESG data management and reporting.

"The company's unique cloud delivery model coupled with proprietary technology is a game-changer for clients. Uniqus leverages both technology and people to deliver a holistic and compelling value proposition for clients,” said Anup Gupta from Nexus Ventures.

This latest infusion of capital will be used for the next phase of Uniqus’ growth, with plans to scale-up existing solutions, launch of adjacent service offerings and geographical markets, and continued investments in technology, the firm said in the statement.

“Our clients have been encouraging us to explore adjacent solutions and high-quality talent has been approaching us with new capabilities. The current round of funding will enable us to expand our solutions portfolio, explore new markets, and further accelerate our growth plans,” said Jamil Khatri, co-founder and CEO of Uniqus.

The consulting firm plans to hit a revenue of $100 million by 2026 and a revenue of $150 million by 2027, Khatri told Moneycontrol. Revenues are almost equally split between the three geographies currently.

Growth plans will see the firm expand into adjacent geographies of its existing markets in the US and the Middle East. Canada is one of the countries the company is looking to expand into, as well as Gulf countries like Qatar.

Sorin Investments’ Sanjay Nayar added that the company’s chosen markets in India, the US and the Middle East all offer significant opportunities either due to their growth potential or their absolute size.

The firm’s clients include large corporates and emerging growth companies backed by private equity and venture capital funds and startups.

The company sees strong demand for its services from various sources, said Khatri. “There are three big drivers of demand. One is the whole IPO pipeline. We see a robust IPO activity all around. So that's been driving a lot of work for us. Second is that the VC and PE industry is realising that as startups have grown in their portfolio, the governance and compliance and control within the startups have not kept up pace. So we see very significant demand in that area. And third is regulators like Securities and Exchange Board of India has been pushing on ESG disclosures and data integrity and that's been driving a lot of growth for us as well,” he said.