The investment signals a strategic intent to support the high-end knowledge related services, Annik Technology said in a release.

ATS specialises in the market research and data analytics domain and was founded by Rahul Sahgal. "I am very excited about being associated with Annik and Rahul," Roy, one of the pioneers in the BPO sector, said.

Along with Roy and his team, Vikas Srivastava, managing partner of Luthra and Luthra Chartered Accountants, is also investing in the company.

"Our domain knowledge coupled with Raman and his team's background of creating and scaling quality organisations gives us a competitive edge that will allow us to grow Annik with new and existing customers," CEO and president of Annik, Rahul Sahgal said.