PE Fund Investments
IT Services co Celebal raises $32-M from Norwest Venture Partners
Jaipur-based software consulting firm Celebal Technologies has raised USD 32 million in a growth capital round from Norwest Venture Partners. The startup will use the fresh funds to strengthen its foothold in markets across India, North America and Asia Pacific as well as fuel its expansion to Europe, Middle East and Japan. Part of the funds would be used towards increasing delivery capacity and building industry-focused solutions. Celebal Technologies speclizes in AI, Big Data, and Enterprise Cloud. The start-up is already profitable. Avendus Capital acted as the exclusive financial adviser to Celebal. Shardul Amarchand Mangaldas & Company served as the legal advisers to Celebal as well as Norwest Venture Partners.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
