Norwest Venture Partners Infuses USD 32 M In Startup Celebal


Celebal Technologies, a software consulting firm, raised $32 million (roughly Rs 261 crore) in its first institutional funding round on Wednesday from Norwest Venture Partners.

Following the fundraise, Norwest Venture Partners will select a minority stake in the earlier bootstrapped firm.

The funds will be used to expand the firm’s presence in existing markets such as North America, India, and the Asia Pacific region, as well as in new markets such as Europe, the Middle East, and Japan.

Some of the funds would go toward increasing delivery capacity and developing industry-specific solution accelerators.

The company was founded in 2015 by Kala and Anupam Gupta and operates in the big data, data science, and enterprise cloud space. As a Microsoft and Databricks partner, the company provides differentiated services and accelerators on the Microsoft Azure and Databricks platforms, serving industries including manufacturing, financial services, energy, CPG, retail, and healthcare.

Celebal Technologies’ financial adviser was Avendus Capital, and its legal adviser was Shardul Amarchand Mangaldas and Company.

Categories: Other News

Leave a Reply Cancel reply