IT services provider Celebal Technologies has raised $15 Mn (around INR 127.2 Cr) in its Series B funding round from InCred Growth Partners Fund-I and Norwest Capital, LLC.

The startup plans to deploy the fresh proceeds to boost its expansion in key overseas markets, including North America and Europe, while bolstering its capabilities in building AI-powered industry solutions.

Additionally, the company will use the capital to drive growth initiatives and strengthen strategic account management, with a focus on building industry-specific AI solutions in verticals such as energy, manufacturing, retail/CPG, life sciences and financial services.

Avendus Capital was the exclusive financial advisor to Celebal on the deal.

Founded in 2016 by Anirudh Kala and Anupam Gupta, Celebal is an AI and data software solutions provider. It’s a leading services partner for Databricks and Microsoft, enabling digital transformation for over 250 enterprise customers across the globe.

The company currently employs over 2,000 professionals globally. It raised an undisclosed debt . The startup in its first institutional fundraising from Norwest Venture Partners in 2022.

The funding comes at a time when Celebal claims to have more than doubled its revenue, headcount, and international presence since its previous fundraise in September 2022.

(The story will be updated soon)

The post appeared first on .