Celebal Technologies, an IT services provider based in Jaipur, has raised US$15 million in a series B funding round.

The funding came from InCred Growth Partners Fund-I and Norwest Capital, LLC. Avendus Capital acted as the financial advisor for the deal.

Founded in 2016 by Anirudh Kala and Anupam Gupta, the company specializes in AI and data software solutions and serves over 250 enterprise clients globally. It partners with Databricks and Microsoft.

The funds will be used to expand into international markets, including North America and Europe.

Celebal also aims to boost its AI-driven solutions across sectors like energy, manufacturing, retail, life sciences, and financial services.

The company, which employs over 2,000 people, previously raised US$32 million in 2022 from Norwest Venture Partners and received debt funding from BlackSoil last year.

🔗 Source: Inc42

🧠 Food for thought

1️⃣ AI services market boom creates tailwinds for specialized providers

Celebal’s $15 million funding comes amid explosive growth in the AI services sector, which is projected to expand from $26.15 billion in 2024 to $38.02 billion in 2025, reflecting a 45.4% compound annual growth rate 1.

This specialized market is growing even faster than the broader AI market, which itself is expanding at an impressive 36.6% CAGR to reach $1,339.1 billion by 2030 2.

The timing of Celebal’s capital raise aligns with this market momentum, as businesses increasingly seek external expertise rather than building AI capabilities in-house.

Nearly half (49%) of technology leaders report that AI is now fully integrated into their core business strategy, creating sustained demand for firms that can bridge the implementation gap 3.

Celebal’s positioning as a partner for both Databricks and Microsoft, two major AI infrastructure providers, places it strategically at the convergence of data and AI services that enterprises are rapidly adopting.

2️⃣ Industry-specific AI solutions driving next wave of enterprise adoption

Celebal’s focus on building industry-specific AI solutions aligns with clear market signals about vertical specialization being critical for AI implementation success.