India, May 12 -- 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. ...