CIEL HR Services, a human resources solutions provider, has successfully raised Rs 30 crore in a pre-IPO funding round from 88 investors, including prominent names like Zoho Corporation and Pegasus India. The funds were raised through the placement of equity shares at Rs 110 each. The company plans to use these proceeds to acquire stakes in its subsidiaries, enhance working capital, pursue acquisitions, and cover general corporate expenses. This fundraising precedes CIEL HR Services' upcoming IPO, which is expected to include a fresh issue of Rs 335 crore and an offer for sale.