Nagarro aims to touch $10 billion in 10 years driven by strong adoption of AI Founded by Manas Human and a few others, Nagarro was listed independently on the Frankfurt Stock Exchange in 2020, when its revenue was a little over $500 million. Nagarro has more than doubled its revenue since then.

Nagarro is a digital engineering company, and you are probably using its software nearly every day. It's embedded in the aircrafts you fly in, the hotels you go to, the cars you drive, the medical devices that checks your health parameters, and so on.

In the mid-1990s, Nagarro was founded in India through the shared vision of Manas Human, Vikram and Vikas Sehgal, Manmohan Gupta, Priya Jadhav, and others. Their journey commenced in a modest office above a shop in Delhi. Despite humble beginnings, their commitment to delivering exceptional work forged partnerships with well-known clients across the US and Europe. In 2011, it merged with Allgeier, a German technology holding, marking a significant milestone in its growth trajectory. Finally, in 2020, it took an independent path, listing on the Frankfurt stock exchange.

"We are trying to be an agile, BIZ Experiencesial and global company. Trying to be quite different from the larger players in that we really value more than process – we value individual creativity, agility, working in small teams, and intensive work that is fast-moving, quick time to market is our sweet spot. So, with that, we have built this differentiation that now spans across industries. We have clients in nearly 70 countries and offices in 36 countries. So, we are now a global company but trying to keep this feeling of being a small intimate startup even as we scale. That's, I think, our secret sauce," Manas Human, CEO and co-founder, Nagarro said in an exclusive interview with BIZ Experiences India.

If you found the surname interesting, it may be worthwhile to note that in October 2022, Manas Fuloria denounced his surname Fuloria and changed it to Human, in an attempt to push his religious, national, and regional identities forever into the background.

Nagarro today has high ambitions and is set to disrupt the digital product engineering space in many ways.

Munich-based Nagarro aims to touch $10 billion in revenue in the next 10 years driven by increased adoption of AI across enterprises and a gradual uptick in discretionary spend.

"We (Nagarro) crossed the $1 billion revenue mark in 2023 and now our goal now is to be one of the world's greatest companies in terms of the kind of impact we create," said Human.

Listed independently on the Frankfurt Stock Exchange in 2020, when its revenue was a little over $500 million, Nagarro has more than doubled its revenue since then.

North America is the largest market for the company followed by Europe and the rest of the world which includes Middle East and Africa. Currently, India contributes roughly 10% to the company's topline but the share is gradually increasing.

"There has been a slowdown in discretionary spending in the last 12-18 months…but we believe as the rate cuts start to come in, discretionary spending will start picking up," Human said.

India is the largest talent hub for Nagarro with about 12,000 employees out of its total headcount of 18,300 employees spread across 37 countries in the world.

The company is heavily investing in AI to unleash the full potential of the technology. "Just like the internet or electricity, AI will soon be everywhere. What companies like us have to figure out is which game in AI we want to win. We want to help our clients become fluidic which essentially means highly intelligent, agile, responsive, personalised, creative companies. Most of our customers are large organisations and they are naturally more bureaucratic. We want to use AI to democratise personalised information, inputs, feedback, and being enable to cross functional flows," Human said.

In terms of sectors, BFSI is a growing area for Nagarro but it is focussed more on the digital side of it than traditional banking and insurance. "We are quite broad-based and we believe that is an advantage as most of the innovation today is at the crossing of several sectors. We work with automative and the public sector as well," Human said.

At a time when several IT companies are calling employees back to office, Nagarro works in a remote-first environment. With large offices in Gurugram, Bengaluru, and Pune, it has smaller workspaces (or hives as it calls them) across 20 locations throughout India.

"The idea is someone living in any location can work from any of the hives. They don't have to necessarily come to the office but they can come to socialize or whenever there is a specific requirement," Human said.