First institutional round of funding bolsters Celebal Technologies’ mission to modernize traditional enterprises leveraging cloud innovation capabilities
PALO ALTO, Calif. and HOUSTON and JAIPUR, India, Nov. 23, 2022 /PRNewswire/ — Celebal Technologies, a premier software consulting and delivery organization, specializing in cutting-edge technologies such as AI, Big Data, Data Science, and Enterprise Cloud, today announced that it has secured a $32 million minority growth investment from Norwest Venture Partners, a leading venture and growth equity investment firm. This is Celebal Technologies’ first institutional investment and marks the beginning of a new chapter in the company’s growth story. 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.
Founded by tech visionaries, Anupam Gupta and Anirudh Kala, Celebal Technologies is a high-growth firm that employs 1,600+ software engineers delivering new-age solutions to over 100 clients globally. The company’s 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. Celebal Technologies was recognized as the winner of the 2022 Microsoft India Partner of the Year for the second consecutive year and the 2022 Databricks Partner of the Year for Asia Pacific and Japan.
“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 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.”
“We are pleased to welcome Celebal Technologies to the Norwest family,” said Shiv Chaudhary, Managing Director of Norwest Venture Partners. “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.”
“We are 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,” said Anirudh Kala, co-founder and CEO of Celebal Technologies. “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.”
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.
About Celebal Technologies
Celebal Technologies is a leading software services company specializing in AI, Big Data, App innovation and Enterprise Cloud. They partner with Fortune 1000 and equivalent organizations and help them become data driven and propel them in their digital innovation journeys. Celebal Technologies provides a range of offerings around Data Science, Data Engineering, Cloud Innovation, Chat Bots, Low code Platforms, Process Automation etc. The Company offers tailor-made solutions focused on Industries like FSI, Manufacturing, Retail, Healthcare etc. along with business offerings for Customer 360, Supply Chain, Logistics, Financial Analytics and Sustainability etc. Celebal Tech’s flagship offering is the ERP. Extend and Innovate program with Data, Analytics, Integrations, Modern Apps and process intelligence leveraging the Azure and Databricks landscape. For more information about Celebal Technologies, please visit www.celebaltech.com.
About 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. For more information about Norwest, please visit www.nvp.com.
SOURCE Celebal Technologies
