Norwest Venture Partners invests $32 million in Celebal Technologies
- ByStartupStory | November 24, 2022
Norwest Venture Partners made a $32 million minority growth investment in Celebal Technologies, the first institutional investment in the company.
The funding will be used to bolster the startup’s position in existing markets in North America, India, and Asia-Pacific, as well as fuel its development into new markets in Europe, the Middle East, and Japan. Some of the money will go toward expanding delivery capacity and developing industry-focused solution accelerators.
Celebal Technologies, founded in 2015 by Anupam Gupta and Anirudh Kala, provides services and accelerators on the Microsoft Azure and Databricks platforms to drive innovation and empower enterprises in their digital transformation journeys across industries such as manufacturing, financial services, energy, CPG, retail, and healthcare.
“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, 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 ecosystems.”
Norwest Venture Partners’ Managing Director, Shiv Chaudhary, stated, “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.”
Anirudh Kala, Co-founder and CEO of Celebal Technologies, said, “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.”
Celebal Technologies’ financial advisor was Avendus Capital, and its legal advisor was Shardul Amarchand Mangaldas & Company. Norwest Venture Partners also had him as a legal advisor.
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