Celebal Technologies, an IT services provider known for its expertise in data science, AI, and enterprise cloud solutions, has raised an undisclosed amount of debt from alternative credit platform BlackSoil. This follows the company’s $32 million institutional fundraising in 2022, backed by Norwest Venture Partners.
The fresh proceeds will be directed towards working capital and general corporate purposes. The funding is expected to bolster Celebal Technologies’ ability to serve its expansive client base of over 200 companies and deepen its market penetration globally.
“Celebal Technologies has been on a rapid growth trajectory,” said Anupam Gupta, Co-founder of Celebal Technologies. “This latest funding from BlackSoil will enable us to enhance our operational capabilities and provide even better services to our clients.”
Founded in 2016 by Anupam Gupta and Anirudh Kala, Celebal Technologies has carved a niche in the tech industry by delivering tailored solutions in data engineering, cloud innovation, supply chain analytics, and AI-driven chatbots. The company boasts strategic partnerships with tech giants such as Microsoft and Databricks.
In just a few years, Celebal Technologies has achieved an impressive annual growth rate (CAGR) of approximately 105% from FY21 to FY24. During this period, the company’s workforce expanded from 300 to 2,300 employees, reflecting its significant growth and market demand.