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May 14, 2025

InCred Growth Partners Fund – I in a Series B fund raise by Celebal Technologies Private Limited.

AZB & Partners represented InCred Growth Partners Fund – I in a Series B fund raise by Celebal Technologies Private Limited, having a round size of ~INR 125 Crore. InCred invested ~INR 80 Crore along with investment of ~INR 45 Crore from the target’s existing investor, Norwest Capital LLC. Celebal Technologies is an IT services firm specialising in AI solutions.

Our transaction team comprised our Senior Partner Anand Shah, Partners Harshil Dalal and Kinshuk Jhunjhunwala, Senior Associate Anmol Jain and Associate Isana Laisram. Our due diligence team comprised our Partners Nandan Pendsey, Esq., Ajay Singh Solanki and Dhruti Dholakia, Senior Associates Komal Shah, Praharsh Vyas, Sayantani Saha and Rhea Ghanshani, Associates Mayukh Mandal, Jhanvi Sangani, Shreeja Mukherjee, Kareena Sobti, Labdhi Golechha, Yashashwini Santuka and Akshat Bhushan; and our competition law team included our Partner Kirthi Srinivas, along with Associates Shivangi Pradhan and Varnika Agarwal.

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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