Celebal Technologies, a leading IT services provider supported by Norwest Venture Partners, has recently announced securing an undisclosed amount of debt financing from alternative credit platform BlackSoil. This funding comes following Celebal’s initial institutional fundraising round in 2022, where it raised $32 million from Norwest.
The fresh infusion of capital is earmarked for enhancing working capital and supporting general corporate initiatives, according to a statement released by Celebal Technologies. The company aims to leverage these funds to better serve its diverse client base of over 200 clients and to further expand its market reach globally.
Established in 2016 by co-founders Anupam Gupta and Anirudh Kala, Celebal Technologies specializes in cutting-edge services such as data science, AI solutions, and enterprise cloud technologies. The firm assists its clients in optimizing business operations through services that include data engineering, cloud innovation, supply chain analytics, and AI-driven chatbots.
Based in Jaipur, Celebal Technologies has demonstrated impressive growth, boasting a compound annual growth rate (CAGR) of approximately 105% from FY21 to FY24. Over this period, the company’s workforce has expanded significantly from 300 to 2,300 employees. Celebal Technologies has also forged strategic partnerships with industry leaders such as Microsoft and Databricks to further enhance its service offerings.
The latest debt financing from BlackSoil underscores confidence in Celebal Technologies’ business strategy and its ability to capitalize on opportunities in the competitive IT services sector. With a strong foundation and a commitment to innovation, Celebal Technologies remains poised for continued growth and expansion in the global market.