Celebal Technologies raises $32M from Norwest Venture Partners
, a software service company, raised $32 million as minority growth investment from Norwest Venture Partners, the first institutional investment in the company.
The investment aims to strengthen the startup's foothold in existing markets across North America, India and the Asia-Pacific, as well as fuel its expansion in new territories across Europe, the Middle East, and Japan. Some of the funds would be utilised towards increasing delivery capacity and building industry-focused solution accelerators.
Founded in 2015 by Anupam Gupta and Anirudh Kala, Celebal Technologies offers services and accelerators on the Microsoft Azure and Databricks platforms to drive innovation and empower enterprises in their digital transformation journeys across various industries such as manufacturing, financial services, energy, CPG, retail, and healthcare.
“We are excited about our partnership with Norwest Venture Partners, who have an enviable track record of building scaled new-age technology companies globally. They understand our business and are passionate about companies in the next-gen Cloud, Analytics, and AI services segments,” said Anupam Gupta, Co-founder of Celebal Technologies. “In terms of market potential, we feel we’ve just scratched the surface and this partnership will enable us to pursue growth opportunities in the Microsoft and Databricks ecosystem.”
Shiv Chaudhary, Managing Director of Norwest Venture Partners, said, “Celebal Technologies continues to demonstrate strong, differentiated execution and team culture. The company is laying the foundation for further scale and capturing the very large global market opportunity.”
Anirudh Kala, Co-founder and CEO of Celebal Technologies, said, “Norwest's deep business and technology services sector expertise, along with its global portfolio presence, complements Celebal Technologies’ strengths and ability to grow the business in key markets and in new domains like sustainability.”
acted as the exclusive financial advisorm and Shardul Amarchand Mangaldas & Company served as the legal advisor to Celebal Technologies. The latter also served as the legal advisor to Norwest Venture Partners.
Edited by Kanishk Singh