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Celebal Tech Raises Debt Funding from BlackSoil to Fuel Global Expansion
Update / Judgement Date
29 Jun 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Start-Up & DPIIT
Celebal Technologies, a leading IT services provider specializing in data science, AI, and cloud solutions, has raised an undisclosed amount of debt from alternative credit platform BlackSoil. This follows a $32 million institutional funding round in 2022 led by Norwest Venture Partners. \r
The new funds will support working capital and general corporate purposes, enhancing Celebal’s ability to serve over 200 clients and expand its global market presence. Co-founder Anupam Gupta highlighted that the funding will bolster operational capabilities. \r
Since its 2016 founding, Celebal Technologies has grown rapidly, with a CAGR of 105% from FY21 to FY24 and a workforce increase from 300 to 2,300 employees.
