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IT Services Firm Celebal Technologies Raises Funds Through Debt Round Led by BlackSoil

IT Services Firm Celebal Technologies Raises Funds Through Debt Round Led by BlackSoil
IT Services Firm Celebal Technologies Raises Funds Through Debt Round

SUMMARY

Celebal Technologies is a Norwest venture partner-backed IT service provider that secured undisclosed  debt from Blacksoil. The company previously secured $32 million from Norwest in its first institutional  funding. The company plans to use these fresh proceeds to advance its technology and enhance its  platform for better user experience while meeting working capital requirements, and general  corporate purposes. 

The IT company offers artificial intelligence, data science, and enterprise cloud solutions. The company  aims to use a portion of this investment to increase its network and expand in the market. Celebal  Technologies is a software consulting IT company that provides managed services to its clients. The  startup claims to have over 2000 working professionals serving its client base. Celebal Tech aims to  provide the best IT solutions, technologies, and IT services globally. 

Celebal Tech also assists its clients with improving business productivity efficiently while providing  customized solutions in cloud innovation, data engineering, Artificial Intelligence-driven applications,  and supply chain analytics. The startup aims to develop easy, simple, and understandable solutions for  its clients that can be easily understood by organizations or an individual. The firm aims to provide AI  and cloud solutions that can be integrated with traditional software. These tailor-made solutions help  businesses to maximize efficiency and productivity with increased speed and high accuracy. The  company offers software development, maintenance, and other IT services to companies in  healthtech, fintech, or other domains. 

This Jaipur-based IT firm reported an annual growth rate of 15 percent in FY24. The startup also  announces its workforce expansion from 300 to 2,300 working professionals during the same period.  The company has partnerships with other IT enterprises including Databricks and Microsoft. Databricks  is a leading data and AI company that announced its acquisition of data management startup Tabular  for 1 billion US dollars. As a part of a new operating model, the celeb tech plans to increase its  operations in the IT industry and might aim to secure more funding this year to fuel its global  expansion. This tech company operates in countries including the USA, India, UAE, Europe, Canada,  and APAC. 

Conclusion: 

Celebal Technologies is an IT service provider that secured an undisclosed debt from Blacksoil, a credit  platform. Before this round, the firm raised 32 million USD from Norwest Ventures in its first major  funding round. The company plans to use these fresh proceeds to advance its technology and enhance  its platform for better user experience while meeting working capital requirements, and general  corporate purposes. Celebal Technologies is a software consulting IT company that provides managed  services to its clients. The startup claims to have over 2000 working professionals serving its client  base. Celebal Tech aims to provide the best IT solutions, technologies, and IT services globally. The firm  also assists its clients with improving business productivity efficiently by offering customized solutions  in cloud innovation, data engineering, and supply chain analytics. As a part of a new operating model,  the celeb tech plans to increase its operations in the IT industry and might aim to secure more funding  this year to fuel its global expansion.

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