Celebal Technologies raises USD 32 mn

NewsDrum Desk
23 Nov 2022

Mumbai, Nov 23 (PTI) Celebal Technologies, which specialises in AI, big data and enterprise cloud among other technologies, has secured its maiden institutional funding worth USD 32 million (about Rs 261 crore) from Norwest Venture Partners, which will pick up a minority stake in the firm.

The Jaipur-based startup on Wednesday said the investment will strengthen its foothold in existing markets across North America, India and the Asia Pacific as well as will help enter Europe, the Middle East and Japan. The funds will be used towards increasing delivery capacity and building its solution accelerators.

Founded by Anupam Gupta and Anirudh Kala, Celebal employs over 1,600 software engineers and serves over 100 clients globally, apart from being a partner for Microsoft Azure.

Co-founder Kala, who also doubles up as the CEO of Celebal, expressed confidence that Norwest's deep business and technology services sector expertise, along with its global portfolio presence, will help his firm strengthen and grow the business in key markets and new domains like sustainability.

US-based Norwest Venture Partners is a leading venture and growth equity investment firm.

Avendus Capital was the exclusive financial advisor to Celebal for the deal, and Shardul Amarchand Mangaldas was the legal advisor. PTI BEN SHW SHW

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