Novac Technology Solutions
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).
- Company typePrivate
- Founded2018
- HeadquartersChennai, India
- Headcount1,001–5,000
- GTM typeB2B
- OfferingSoftware
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.
Novac Technology Solutions firmographics
Firmographics- 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
Novac Technology Solutions industry classification
Industry- 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
Where Novac Technology Solutions is headquartered
LocationHeadquarters
- HQ city
- Chennai
- HQ country
- India
- HQ region
- Asia
Offices1 record
Markets served
Novac Technology Solutions business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales
Revenue model
- ERP Solutions (Ziva): Enterprise ERP solutions providing digital transformation services, representing 65% of total revenue. This is the primary revenue driver for the company.
- Insurance Platform (Statim): Insurance platform contributing 30% of revenue, serving insurance sector digitalization and platform needs.
- E-learning Services: E-learning services contributing 10% of revenue. Vertical expanded significantly post-pandemic serving corporate clients with digital skilling solutions.
- 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
Novac Technology Solutions product offering
Product offeringCore 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
Companies that use Novac Technology Solutions
Customer profileNamed customers2 records
Segments2 records
Ideal customer profiles2 records
Novac Technology Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature5 records
Novac Technology Solutions partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered client, core and expansion.
- Nestavia Home FinanceclientNovac 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 GUVIcoreNovac 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 FirmexpansionNovac 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
Novac Technology Solutions competitors and assessment
Company assessmentDirect 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
Novac Technology Solutions social profiles
Digital presenceNovac Technology Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
Novac Technology Solutions leadership team
Management profileNumber of profiles
Novac Technology Solutions funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Novac Technology Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Novac Technology Solutions
What does Novac Technology Solutions do?
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.
Is Novac Technology Solutions a public or private company?
Novac Technology Solutions is a private company. It is classified as corporate owned and is currently operating.
When was Novac Technology Solutions founded?
Novac Technology Solutions was founded in 2018. It employs 1,001 to 5,000 people.
Where is Novac Technology Solutions based?
Novac Technology Solutions is headquartered in Chennai, India, in the Asia region.
How does Novac Technology Solutions make money?
Four revenue lines are on record. ERP Solutions (Ziva) is the primary driver. The others are insurance Platform (Statim), E-learning Services and AI Solutions (Megoto).
Who are Novac Technology Solutions's main competitors?
Direct peers on record are Ramco Systems, Zoho Corporation and Birlasoft. Broad incumbents are Cyient, Mphasis, Persistent Systems, LTIMindtree, Infosys and TCS (Tata Consultancy Services). Kellton Tech Solutions is listed as an emerging player.
Does Novac Technology Solutions have an API?
No public API is recorded for Novac Technology Solutions.
What industry is Novac Technology Solutions in?
Novac Technology Solutions's product category is Enterprise Digital Transformation Software. Its primary akta.pro industry code is BPAHAEAC, Customer Experience (CX) & Digital Experience. Its NAICS code is 5415 and its SIC code is 7373.