Norwest Venture Partners, a Palo Alto, Calif.-based venture and growth equity investment firm, has made a $32 million minority growth investment in Celebal Technologies, a software consulting and delivery organization focused on AI, data science and enterprise cloud.
Celebal Technologies is a global partner of Microsoft and Databricks and employs over 1,600 software engineers offering services to approximately 100 clients globally. The investment aims to strengthen the company’s footprint in existing markets throughout North America, India and Asia Pacific as well as drive its expansion in new territories across Europe, the Middle East and Japan. Some of the funds will work to improve delivery capacity and also build industry-focused service accelerators. It also marks Celebal Technologies’ first institutional investment.
“Celebal Technologies continues to demonstrate strong, differentiated execution and team culture,” states Shiv Chaudhary, managing director of Norwest Venture Partners. “The company is laying the foundation for further scale and capturing the very large global market opportunity.”
Avendus Capital acted as the financial advisor and Shardul Amarchand Mangaldas & Co. served as the legal advisor to Celebal Technologies. Shardul Amarchand Mangaldas & Co. served as the legal advisor to Norwest Venture Partners