BlackSoil, an alternative credit platform, has raised undisclosed debt for Celebal Technologies, an IT services provider supported by Norwest Venture Partners.
In 2022, Celebal Technologies successfully raised $32 million from Norwest during its inaugural institutional fundraising effort.
According to a press release from the company, the new funds will be utilized for working capital and general corporate purposes. Additionally, it will help Celebal Technologies expand its global market penetration and provide better customer service to its 200+ clientele.
Celebal Technologies, which was co-founded in 2016 by Anupam Gupta and Anirudh Kala, specializes in enterprise cloud solutions, data science, and artificial intelligence. The company offers specialized solutions in data engineering, cloud innovation, supply chain analytics, and AI-driven chatbots to help its wide range of clients increase business efficiencies.
Celebal Technologies, a Jaipur-based company, states that between FY21 and FY24, it achieved a compound annual growth rate (CAGR) of roughly 105%. From 300 to 2,300 workers were employed during this time. It has strategic alliances with Microsoft and Databricks, two of the biggest names in the industry.
