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Celebal Tech raises debt from BlackSoil

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Celebal Technologies, an IT services provider backed by Norwest Venture Partners, has raised undisclosed debt from alternative credit platform BlackSoil. In 2022, Celebal Technologies had raised $32 million in its first institutional fundraising from Norwest. The fresh proceeds will be used for working capital and general corporate purposes, the company said in a press release. It will also enable Celebal Technologies to serve its over 200 client base better and deepen its market penetration worldwide. Co-founded in 2016 by Anupam Gupta and Anirudh Kala, Celebal Technologies specialises in data science, AI, and enterprise cloud solutions. The firm assists its extensive clientele with improving business efficiencies and providing tailored solutions primarily in data engineering, cloud innovation, supply chain analytics, and AI-driven chatbots. Jaipur-based Celebal Technologies claims to have achieved an annual growth rate (CAGR) of approximately 105% from FY21 to FY24. During this period, the number of employees grew from 300 to 2,300. Its strategic partnerships with industry giants include Microsoft and Databricks.