India’s Celebal Technologies gets $32M investment from Norwest Venture Partners

Celebal Technologies, an Indian software as a service (Saas) firm, announced Wednesday it has secured a $32 million minority growth investment from Norwest Venture Partners, a United States-based venture and growth equity investment firm.

Celebal Technologies said in a statement this is the firm’ first institutional investment and marks the beginning of a new chapter in the company’s growth story.

It said the investment will strengthen its foothold in existing markets across North America, India and Asia Pacific as well as fuel its expansion in new territories across Europe, Middle East and Japan.

Some of the funds would be utilized towards increasing delivery capacity and building industry focused solution accelerators, it added.

“We are excited about our partnership with Norwest Venture Partners, who have an enviable track record of building scaled new-age technology companies globally. They understand our business and are passionate about companies in the next-gen cloud, analytics, and artificial intelligence (AI) services segments,” said Anupam Gupta, an IIT Bombay Alumnus and Co-Founder of Celebal Technologies.

“In terms of market potential, we feel we’ve just scratched the surface and this partnership will enable us to pursue growth opportunities in the Microsoft and Databricks ecosystem,” he added.

Meanwhile, Celebal Technologies Co-Founder and Chief Executive Officer Anirudh Kala he is bullish on the growth of the digital technology services sector and offshore delivery.

“With a strong DNA of innovation-led culture and customer-centricity, backed by strong partnerships with Microsoft and Databricks, we are well-positioned to capitalize on new opportunities and serve our fast-growing roster of clients,” he said.

He also said Norwest’s deep business and technology services sector expertise, along with its global portfolio presence, complements Celebal Technologies’ strengths and ability to grow the business in key markets and in new domains like sustainability.

Founded by tech visionaries, Anupam Gupta and Anirudh Kala, Celebal Technologies is an India-based premier software consulting and delivery organization, specializing in cutting-edge technologies such as AI, big data, data science, and enterprise cloud.

The firm is a high-growth firm that employs 1,600+ software engineers delivering new-age solutions to over 100 clients globally. Its unique expertise lies at the intersection of “traditional enterprise” and “modern cloud innovation”.

Celebal Technologies is a premier global partner of Microsoft and Databricks. It offers differentiated services and accelerators on the Microsoft Azure and Databricks platforms to drive continuous innovation and empower enterprises in their digital transformation journeys across various industries such as manufacturing, financial services, energy, CPG, retail and healthcare.

“We are pleased to welcome Celebal Technologies to the Norwest family. Celebal Technologies continues to demonstrate strong, differentiated execution and team culture,

“The company is laying the foundation for further scale and capturing the very large global market opportunity,” said Shiv Chaudhary, Managing Director of Norwest Venture Partners.

Norwest Venture Partners is a Palo Alto based venture and growth equity investment firm managing more than $12.5 billion in capital.

The fund has invested in 650+ companies across early to late-stage growth stage and is currently partnered with more than 200 companies across a wide range of sectors including consumer, enterprise and healthcare.

Avendus Capital acted as the exclusive financial advisor and Shardul Amarchand Mangaldas & Company served as the legal advisor to Celebal Technologies. Shardul Amarchand Mangaldas & Company served as the legal advisor to Norwest Venture Partners.

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