SAM and AZB Advise on Celebal Tech’s $14.66 Million Series B Fundraise

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Celebal Technologies Private Limited (Celebal Tech), a Jaipur-headquartered AI and data analytics company, has raised $14.66 million in its Series B funding round.

The round saw participation from both new and existing investors, including a fresh investment from InCred Growth Partners Fund–I and a follow-on investment from Norwest Capital, LLC.

Legal Advisors

  • Shardul Amarchand Mangaldas & Co (SAM) advised Celebal Tech and its founders, as well as existing investor Norwest Capital.
    The deal teams included:

    • For Celebal Tech: Abhishek Guha (Partner), Mahesh Wasadikar (Partner), and Deesha Vyas (Associate)

    • For Norwest Capital: Aayush Kapoor (Partner), Srikant CV (Partner), Subhashini Narayanan (Senior Associate), Pratim Majumder (Associate), Rishika Sharma (Associate), and Kritika Singha (Associate)

  • AZB & Partners advised InCred Growth Partners Fund–I, the lead investor in this round.

Transaction Overview

  • InCred infused approximately ₹80 crore

  • Norwest Capital added a follow-on investment of around ₹45 crore

  • The round has nearly doubled Celebal’s valuation to ₹1,795 crore (~$211 million)

Use of Funds

The capital will be utilized to:

  • Accelerate global business expansion

  • Support working capital and operational growth

  • Advance development of AI-powered industry solutions in retail, energy, financial services, and more

Also read: DUCOL Acquires Bitumag Industries for INR 39.7 Crores, ALMT Legal Acts as Legal Advisor

About Celebal Tech

Founded in 2016 by Anirudh Kala and Anupam Gupta, Celebal Tech delivers enterprise AI and big data solutions globally. Highlights include:

  • Over 2,000 employees

  • Serving 250+ enterprise clients worldwide

  • Partner to Microsoft and Databricks

  • FY24 revenue: ₹275 crore (43% YoY growth)

  • FY24 net loss of ₹60 crore, attributed to expansion-driven investments

Deal Significance

This Series B round is strategically significant for several reasons:

  • Validates investor confidence in India’s growing enterprise AI and SaaS sectors

  • Positions Celebal Tech as a global-scale competitor in the AI consulting and data solutions space

  • Strengthens the company’s ability to build IP-led, scalable tech platforms

  • Marks a rare example of a bootstrapped Indian enterprise tech firm attracting institutional capital while maintaining founder control

  • Reinforces India’s emergence as a hub for deep enterprise tech exports, especially in data-driven transformation services for Fortune 500 clients

Also read: Phoenix Legal and Kaizen Law Advise on $10 Million Fundraise by Vayudh

For more legal deal updates and analysis, stay tuned to TheCourtroom.in.

Disclaimer

This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.

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