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