Novac Technology Solutions

What Novac Technology Solutions does

Novac Technology Solutions is a Chennai-based digital transformation and cloud solutions company operating as a subsidiary of India's Shriram Group. Founded in 2018, the company serves over 200 corporate clients across banking, manufacturing, pharmaceutical, and insurance sectors, providing enterprise technology solutions through three primary revenue-generating platforms: Ziva (an ERP solution accounting for 65% of revenue), Statim (an insurance platform contributing 30%), and e-learning services (10%). The company also operates the AXLE KLASS digital learning infrastructure platform and an AI division branded Megoto that develops conversational AI and AR/VR solutions for enterprise clients.

The company's business model is anchored in B2B enterprise field sales with subscription/recurring revenue streams tied to its proprietary platforms. Revenue is generated through quote-based enterprise contracts rather than disclosed pricing, with vertical diversification spanning ERP implementation, insurance sector digitalization, digital skilling programs, and emerging AI services. A strategic partnership with edtech platform HCL GUVI (announced January 2026) combines the AXLE KLASS infrastructure with HCL GUVI's curriculum to target AI/cloud computing and Full Stack Development training in Latin America and the United States.

For FY26, the company projects ₹380 crore in revenue, representing approximately 19% year-over-year growth from ₹320 crore in FY25. Leadership has guided to 15-20% annual growth going forward, supported by 8-10% annual headcount increases (current scale 1,001-5,000 employees) and international expansion into West Asia, Africa, and the US market via a partnership with a Costa Rican firm. The company has no public listing, no disclosed funding rounds, and no public management team details beyond CEO-stated growth targets.

Name

Novac Technology Solutions

Legal name

Novac Technology Solutions

Website

https://novactech.in

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Novac Technology Solutions is a Chennai-based digital transformation subsidiary of Shriram Group serving 200+ corporate clients in banking, manufacturing, and pharmaceuticals with proprietary ERP (Ziva), insurance platform (Statim), e-learning (AXLE KLASS), and AI solutions (Megoto).

Ownership category

akta.pro rank

Product category

Enterprise Digital Transformation Software

NAICS

Computer Systems Design and Related Services (5415), Computer Systems Design Services (541512), Custom Computer Programming Services (541511)

SIC

Services-Computer Integrated Systems Design (7373), Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Customer Experience (CX) & Digital Experience (BPAHAEAC)

Keywords

• Digital transformation
• Enterprise software
• ERP platform
• Insurance technology
• Cloud solutions

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. ERP Solutions (Ziva): Enterprise ERP solutions providing digital transformation services, representing 65% of total revenue. This is the primary revenue driver for the company.
2. Insurance Platform (Statim): Insurance platform contributing 30% of revenue, serving insurance sector digitalization and platform needs.
3. E-learning Services: E-learning services contributing 10% of revenue. Vertical expanded significantly post-pandemic serving corporate clients with digital skilling solutions.
4. AI Solutions (Megoto): AI division offering conversational AI and AR/VR solutions, growing from initial learning projects into broader enterprise AI services.

Go-to-market motion1 record

Core offering

Novac Technology Solutions is a Chennai-based digital transformation company that develops and sells enterprise software platforms to corporate clients across India. Its primary offering is the Ziva ERP solution (accounting for ~65% of revenue) supporting digital transformation for banks, manufacturing and pharmaceutical firms, complemented by the Statim insurance platform (~30% of revenue), the AXLE KLASS e-learning infrastructure, and its Megoto AI division delivering conversational AI and AR/VR capabilities.

Product overview

Novac Technology Solutions is a Chennai-based digital transformation and cloud solutions subsidiary of Shriram Group offering a multi-product portfolio. The core offerings include Ziva (ERP solution, 65% of revenue), Statim (insurance platform, 30% of revenue), and e-learning services (10% of revenue). The company also operates the AXLE KLASS digital learning infrastructure platform and its AI division Megoto provides conversational AI and AR/VR solutions. Additionally, Novac develops custom mobile applications like NestCFirst for clients.

Differentiator

Problem solved

Functional benefit

Brands

• AXLE KLASS: Digital learning infrastructure platform for e-learning solutions
• Ziva
• Statim
• Migoto

Products and services

• Ziva Enterprise Resource Planning (ERP) solution that provides digital transformation services to corporate clients across banking, manufacturing and pharmaceutical sectors. Accounts for approximately 65% of company revenue.
• Statim Insurance platform offering digital insurance solutions to clients in the insurance sector. Accounts for approximately 30% of company revenue.
• AXLE KLASS Digital learning infrastructure platform co-developed with HCL GUVI that combines Novac's infrastructure with HCL GUVI's technical training curriculum for AI-driven cloud computing and Full Stack Development certification programs.

Quantifiable outcome

• 19% revenue growth projected from ₹320 crore to ₹380 crore in FY26
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Three partnerships are on record, tiered client, core and expansion.

• Nestavia Home FinanceclientTechnology or Integration · 23 March 2026Novac Technology Solutions developed the NestCFirst mobile application for Nestavia Home Finance, enabling loan tracking and management through a digital interface. The app was developed using Novac's technology capabilities, reflecting a customer-first approach for the home finance company's loan servicing needs.
• HCL GUVIcoreStrategic or Co-development Partner · 31 January 2026Novac Technology Solutions partnered with edtech platform HCL GUVI to co-develop training and certification platforms for e-learning solutions. The collaboration combines Novac's AXLE KLASS digital learning infrastructure with HCL GUVI's technical training curriculum, focusing on AI-driven cloud computing and Full Stack Development. Initial target markets are Latin America and the United States, aiming to build a global digital skilling ecosystem and position India as a leader in digital skills development.
• Costa Rican FirmexpansionChannel Partner/ Reseller/ DistributorNovac Technology Solutions is partnering with a Costa Rican firm to enter the US market as part of international expansion strategy. This partnership is part of broader expansion plans targeting West Asia and Africa while establishing US market presence through a regional partner.

Scale indicators7 records

Recent moves4 records

Expansion highlights5 records

Direct peers

• Ramco Systems: Indian enterprise software company with a focus on ERP, HCM, and aviation software. Directly comparable as an India-based ERP and digital transformation vendor competing in the same enterprise software category as Novac's Ziva ERP offering.
• Zoho Corporation: India-headquartered SaaS company offering a broad suite of business applications including ERP-adjacent finance, CRM, and operations tools. Comparable as an Indian enterprise software vendor competing for the same digital transformation wallet share.
• Birlasoft: Indian mid-tier IT services company focused on digital transformation and enterprise applications across BFSI and manufacturing. Closely comparable in scale, vertical mix (banking, manufacturing), and digital transformation services portfolio.

Broad incumbents

• Cyient: India-based IT services and engineering company with a digital transformation practice serving industrial and BFSI clients. Comparable in service model and target verticals but operates at a larger scale with a broader engineering services portfolio.
• Mphasis: Mid-tier Indian IT services company with a strong focus on BFSI digital transformation. Comparable client vertical mix (banking, insurance) and similar digital transformation service offerings, though at materially larger scale.
• Persistent Systems: Indian IT services company delivering digital transformation, cloud, and enterprise software services. Comparable in service mix and enterprise customer focus, operating at a larger scale with broader geographic reach.
• LTIMindtree: Major Indian IT services firm formed from the merger of Larsen & Toubro Infotech and Mindtree. Comparable as a broad digital transformation and enterprise application services provider, but at substantially larger scale and with global delivery footprint.
• Infosys: One of India's largest IT services companies with extensive digital transformation, ERP, and cloud capabilities. Operates in the same enterprise digital transformation category as Novac but at materially larger scale and global reach.
• TCS (Tata Consultancy Services): India's largest IT services company with comprehensive digital transformation, ERP, and cloud offerings. Serves similar enterprise verticals (BFSI, manufacturing) but at vastly greater scale and brand recognition.

Emerging players

• Kellton Tech Solutions: Indian digital transformation and IT services company serving enterprise clients with ERP, cloud, and mobility solutions. Comparable in focus and scale-tier to Novac's enterprise digital transformation practice.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/novactechnology
• Facebookfacebook.com/NovacTechnology
• LinkedInlinkedin.com/company/novactech

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novac Technology Solutions