Deal Corner
July 17, 2024
NDA Represents Certain Selling Shareholders as Part of Battery Smart’s Series B Fundraise

DEAL BRIEF

Battery Smart (Upgrid Solutions Private Limited) raised USD 65 million from a Series B fundraise led by Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment. As part of the transaction, certain early angel investors in Battery Smart sold their shares to incoming investors.

OUR ROLE

We at Nishith Desai Associates, acted as counsels for certain selling shareholders, including, GFC BatterySmart LLC, selling their shares in Battery Smart to Acacia Inclusion Limited and advised on legal and regulatory aspects, including negotiation and finalization of the transaction documents.

DEAL TEAM

Vaibhav Parikh

Afaan Arshad

Morvi Chaturvedi

Muqeet Drabu

MEDIA COVERAGE

https://economictimes.indiatimes.com/tech/ funding/battery-smart-raises-65- million-at-340-million-valuation /articleshow/110917031.cms?from=mdr

https://inc42.com/buzz/ battery-smart-to-raise -45-mn-from-acacia-mufg/

https://www.entrepreneur.com/ en-in/news-and-trends/battery -smart-raises-usd-65-mn-in-series -b-to-boost-ev/475434

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
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Deal Corner

July 17, 2024

NDA Represents Certain Selling Shareholders as Part of Battery Smart’s Series B Fundraise

DEAL BRIEF

Battery Smart (Upgrid Solutions Private Limited) raised USD 65 million from a Series B fundraise led by Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment. As part of the transaction, certain early angel investors in Battery Smart sold their shares to incoming investors.

OUR ROLE

We at Nishith Desai Associates, acted as counsels for certain selling shareholders, including, GFC BatterySmart LLC, selling their shares in Battery Smart to Acacia Inclusion Limited and advised on legal and regulatory aspects, including negotiation and finalization of the transaction documents.

DEAL TEAM

Vaibhav Parikh

Afaan Arshad

Morvi Chaturvedi

Muqeet Drabu

MEDIA COVERAGE

https://economictimes.indiatimes.com/tech/ funding/battery-smart-raises-65- million-at-340-million-valuation /articleshow/110917031.cms?from=mdr

https://inc42.com/buzz/ battery-smart-to-raise -45-mn-from-acacia-mufg/

https://www.entrepreneur.com/ en-in/news-and-trends/battery -smart-raises-usd-65-mn-in-series -b-to-boost-ev/475434

Disclaimer

The contents of this hotline should not be construed as legal opinion. View detailed disclaimer.

This Hotline provides general information existing at the time of preparation. The Hotline is intended as a news update and Nishith Desai Associates neither assumes nor accepts any responsibility for any loss arising to any person acting or refraining from acting as a result of any material contained in this Hotline. It is recommended that professional advice be taken based on the specific facts and circumstances. This Hotline does not substitute the need to refer to the original pronouncements.

This is not a Spam mail. You have received this mail because you have either requested for it or someone must have suggested your name. Since India has no anti-spamming law, we refer to the US directive, which states that a mail cannot be considered Spam if it contains the sender's contact information, which this mail does. In case this mail doesn't concern you, please unsubscribe from mailing list.

NDA Connect

Connect with us at events, 
conferences and seminars.