April 30, 2019
Series B Investment in Mfine - A heath-tech startup
SBI (through its investment vehicles in Japan and Singapore), Beenext, along with other investors led the Series B investment of approx. USD 17 million into NovoCura Tech Health Services Private Limited (doing business as ‘mfine’), a health-tech startup based out of Bengaluru, India. Mfine was founded in 2017 by Ashutosh Lawania (co-founder of Myntra) and Prasad Kompalli (former chief business officer of Myntra).
SBI is an internet-based financial conglomerate from Japan and Beenext is a leading venture capital firm from Singapore. Press coverage, relating to the transaction, is available at the Hindu Business Line and Livemint.
We, at Nishith Desai Associates,acted as legal counsels to SBI and Beenext. We advised them on the legal, regulatory and strategic aspects of the transaction.