Celebal Technologies, an IT services provider with backing from Norwest Venture Partners, has secured an undisclosed amount of debt from the alternative credit platform BlackSoil. This new funding aims to bolster the company’s working capital and support general corporate purposes, as detailed in a company press release. The investment will further enhance Celebal Technologies’ ability to serve its over 200 clients and deepen its global market reach.
In 2022, Celebal Technologies raised $32 million in its first institutional fundraising round from Norwest Venture Partners. This previous funding laid the groundwork for the company’s rapid growth and expansion.
Founded in 2016 by Anupam Gupta and Anirudh Kala, Celebal Technologies specializes in data science, AI, and enterprise cloud solutions. The firm helps its clients improve business efficiencies by offering tailored solutions in data engineering, cloud innovation, supply chain analytics, and AI-driven chatbots.
Based in Jaipur, Celebal Technologies has demonstrated impressive growth, achieving a compound annual growth rate (CAGR) of approximately 105% from FY21 to FY24. During this period, the company expanded its workforce from 300 to 2,300 employees. Celebal Technologies has also established strategic partnerships with industry leaders such as Microsoft and Databricks.
With this new debt funding from BlackSoil, Celebal Technologies is well-positioned to continue its upward trajectory and expand its footprint in the global IT services market.
