Battery Smart, also known as Upgrid Solutions Private Limited, recently concluded a successful Series B fundraise, securing a notable $45 million.
This milestone was achieved with the collaboration of eight prominent firms, each playing a pivotal role in facilitating the transaction.
Law Firms
Vertices Partners: Leading the transaction on behalf of Battery Smart, Vertices Partners provided strategic counsel throughout the fundraising process. The team, spearheaded by Vikrant Anand, Partner, comprised Varun Kaka, Prerna Bharti, Yatin Chandra, and Liji Anna Thomas, each contributing their expertise to ensure the success of the venture.
Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment: These organizations stood out as primary investors in Battery Smart’s Series B round, collectively infusing $45 million into the venture. Their commitment underscores the confidence placed in Battery Smart’s vision and potential for growth.
Shardul Amarchand Mangaldas & Co: Representing LeapFrog, Shardul Amarchand Mangaldas & Co played a crucial role in advising on legal matters related to the transaction. Anuj Bhasme led the team, supported by Hardik Thakker, Rishikesh Desai, Anish Kapoor, and Aakash Rao, ensuring a smooth and legally sound process.
Trilegal: MUFG Bank Limited benefited from legal counsel provided by Trilegal, with Kabeer Mathur and Pranav Atit leading the team. Snigdha Guharoy, Esha Himadri, Harshit Dhandhia, and Suyash Bhamore contributed their expertise to facilitate the bank’s involvement in the fundraising initiative.
AZB & Partners and Gunderson Dettmer: Tiger Global received legal guidance from AZB & Partners and Gunderson Dettmer. Gautam Rego led the team at AZB & Partners, while Samuel S. Feldman and Jessica S. Hart took the helm at Gunderson Dettmer. Their efforts ensured Tiger Global’s seamless participation in the Series B fundraise.
Burgeon Law: Orios Venture Partners enlisted Burgeon Law for legal support, with Ankit Bhasin leading the team. Aastha Agarwal and Saransh Agarwal contributed their legal expertise to facilitate Orios Venture Partners’ involvement in the transaction.
Goodwin Law: Ecosystem Integrity Fund IV, LP, was represented by Goodwin Law, with Asmita Mishra providing legal counsel. Their involvement underscored the diverse range of stakeholders contributing to Battery Smart’s Series B fundraise.
Nishith Desai Associates: Representing the Selling Shareholder, Nishith Desai Associates, led by Vaibhav Parikh and Muqeet Drabu, ensured all legal aspects pertaining to the selling of shares were meticulously addressed, contributing to the overall success of the transaction.
Battery Smart’s successful Series B fundraise, backed by a consortium of investors and supported by expert legal counsel, marks a significant milestone in the company’s journey. The collaboration of these key players underscores the collective effort towards advancing Battery Smart’s mission and driving innovation in the energy sector.
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