Jaipur-based IT services provider Celebal Technologies raises debt from BlackSoil

Jaipur-based IT services provider Celebal Technologies has raised an undisclosed amount in a debt funding round led by alternative credit platform BlackSoil.

The firm plans to use the raised capital for working capital and general corporate purposes, to better serve its over 200 clients, and to enhance its global market penetration.

Prior to this, the firm raised $32 million in funding in November 2022 from Norwest Venture Partners.

What does Celebal Technologies do?

Founded in 2016 by Anupam Gupta and Anirudh Kala, Celebal Technologies specializes in data science, AI, and enterprise cloud solutions. 

The firm provides its extensive clientele with services to improve business efficiencies and offers tailored solutions primarily in data engineering, cloud innovation, supply chain analytics, and AI-driven chatbots.

Leadership comments

Ankur Bansal, Co-Founder and Director of BlackSoil, said, “As a forward-thinking enterprise poised for significant growth, Celebal Technologies is uniquely positioned to lead in the AI sector globally. With their strategic partnership with industry giants Microsoft and Databricks, they are set to revolutionize the market with cutting-edge solutions. Starting in a Tier II city, the journey of Celebal Technologies is a beacon of inspiration. We are thrilled to support their global expansion ambition and are confident in their potential for long-term success.”

Hemant Mathur, CFO of Celebal Technologies, added, “This debt financing from BlackSoil is tailored to our unique needs. Providing us flexibility to seize market growth opportunities while limiting short-term volatility in our cash flows without diluting equity or ownership control.”

Celebal Technologies claims to have achieved an annual growth rate (CAGR) of approximately 105% from FY21 to FY24. It has also established a partnership with Satya Nadella-led Microsoft and San Francisco-based Databricks.