Home / Business and Economy / Kovai.co Invests ₹220 Crore for AI Push in Coimbatore
Kovai.co Invests ₹220 Crore for AI Push in Coimbatore
5 Dec
Summary
- Kovai.co plans to invest Rs 220 crore in Coimbatore over three years.
- Document360 platform achieved $10 million in annual recurring revenue.
- Company targets scaling Document360 to $25 million ARR by 2028.
Coimbatore is poised to become a major center for advanced engineering and AI development, as Kovai.co announces a substantial Rs 220 crore investment in its local development hub over the next three years. This strategic financial commitment is intended to accelerate product innovation and significantly enhance the company's artificial intelligence capabilities.
The investment is partly fueled by the recent success of Document360, Kovai.co's knowledge management platform, which has surpassed $10 million in annual recurring revenue (ARR). The company has ambitious plans to grow Document360 to $25 million ARR by 2028, responding to a global surge in demand for AI-driven knowledge automation solutions.
With an overall revenue exceeding $20 million, Kovai.co reinforces its dedication to its hometown. The founder and CEO, Saravana Kumar, emphasized the landmark achievement for the Indian SaaS ecosystem, highlighting Document360's critical role in the current AI-transformed enterprise landscape. The company also aims for its third product, Turbo360, to become its next major ARR success.
