Celebal Technologies Private Limited has raised $14.66 million from a Series B fundraise which included a fresh investment by Incred Growth Partners Fund–I and a follow-on investment by Norwest Capital, LLC.
Shardul Amarchand Mangaldas & Co advised Celebal Tech and its founders on the fundraise.
The transaction team consisted of Abhishek Guha (Partner), Mahesh Wasadikar (Partner) and Deesha Vyas (Associate).
SAM also advised existing investor Norwest Capital on this fundraise.
The transaction team consisted of 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 on this fundraise.
InCred invested around ₹80 crore, while Norwest infused about ₹45 crore, nearly doubling the company’s valuation to ₹1,795 crore (~$211 million). The Jaipur-headquartered company, a key partner of Microsoft and Databricks, plans to use the capital for business expansion, working capital needs, and building AI-powered solutions across sectors like energy, retail, and financial services.
Founded in 2016 by Anirudh Kala and Anupam Gupta, Celebal reported revenue of ₹275 crore in FY24, marking a 43% year-on-year increase, though losses widened to ₹60 crore. The company has grown its team to over 2,000 employees and now serves more than 250 global enterprise clients
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.