Noventiq Set to Expand Indian Workforce by 500, Unveils Bengaluru Office

In a significant expansion move, UK-based IT firm Noventiq has announced its plans to augment its workforce by approximately 500 individuals this fiscal year, focusing particularly on enhancing its data and artificial intelligence (AI) capabilities in India. Currently, Noventiq boasts a robust team of around 3,000 professionals across the country and aims to increase this number to about 3,500 within the fiscal period.

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Vinod Nair, the President of Noventiq India, highlighted the company's strategic focus on bolstering its technological prowess in data and AI. "We are adding 50 per cent additional strengths in these two spaces," Nair stated, underscoring the firm's commitment to not just expanding its team but also deepening its expertise in key technological domains.

Further solidifying its operational footprint in India, Noventiq has inaugurated a new office in Bengaluru. This facility is not only poised to enhance customer operations and IT support but will also function as a pivotal hub for both local and international projects. Initially, the Bengaluru office will accommodate 100 employees and is expected to be fully operational within the next three months.

Noventiq's CEO, Herve Tessler, expressed his pride in the company's growth trajectory in India, especially in light of its upcoming Nasdaq listing. "India is Noventiq's geographic Center of Gravity," Tessler remarked, emphasizing the critical role of the Indian operations in the company's global strategy. He also noted the potential of India to lead global economic growth by 2028, lauding the contributions of Noventiq's local team to the country's development.

The financial performance of Noventiq in India has seen a remarkable uptick, with gross revenue climbing to USD 686 million in the financial year 2023 from USD 477 million in FY22. Since commencing operations in FY14 with a revenue of USD 2 million, Noventiq has demonstrated significant growth and an unwavering commitment to contributing to India's IT landscape.

This expansion and financial growth underscore Noventiq's strategic emphasis on India as a key market and its dedication to leveraging local talent to drive technological innovation globally. With its increased focus on data and AI skills, alongside the operational ramp-up with its new Bengaluru office, Noventiq is well-positioned to further solidify its presence in India and contribute to the broader IT sector's growth.