Deal Corner

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