SaaS startup Celebal raises $15M from InCred’s PE Fund, Norwest

Enterprise AI solutions provider Celebal Technologies has raised $15 million in a Series B funding round from InCred Growth Partners Fund I and Norwest Capital.

The fresh capital will be utilised to expand its footprint across North America and Europe, along with fueling the development of AI-powered solutions for sectors such as energy, manufacturing, retail, life sciences, and financial services.

“We welcome InCred’s PE Fund to join the journey. This investment reflects the strong fundamentals of Celebal and our commitment to delivering impactful outcomes for our clients. As enterprises increasingly recognize data as a strategic asset, our focus remains on helping them harness its full potential at scale. With the backing of InCred’s PE Fund and Norwest, we are poised to drive deeper innovation and global growth,” said Anupam Gupta, Co-founder of Celebal. 

The Jaipur-based firm enables large enterprises to modernise legacy systems through the integration of cloud and AI technologies.

Since its last fundraise in September 2022, Celebal has more than doubled its revenue, workforce, and global presence, it said in a statement. 

“Celebal operates at the nexus of Data, Analytics and AI—three of the most transformative forces in technology today. Their deep domain knowledge and engineering talent make them a compelling partner. We look forward to supporting their continued success,”said Vivek Singla, Managing Partner and CIO – Private Equity, InCred’s PE Fund. 

Avendus Capital served as the exclusive financial advisor to Celebal for the transaction.

Founded in 2016 by Anirudh Kala and Anupam Gupta, Celebal offers services spanning data science, data engineering, cloud innovation, chatbots, low-code platforms, and process automation. 

Its business offerings include use cases like Customer 360, supply chain optimisation, logistics, and financial analytics.