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Ashlar, start-up of PXV’s Pingal & Souvik, advises on Series A big data investment with NDA, P&C

Ashlar Law, the firm founded by former PXV & Partners partners Pingal Khan in Mumbai and Bangalore and Souvik Bhadra in Kolkata, has completed its first deal, advising “big data” company Indus Insights on its Series A funding by Unilazer and Hive India.

Khan, together with Kolkata-based associate Mohar Majumdar, advised Indus Insights on this first round of investment after having raised $90,000 from angel investors before, according to VCCircle.

Unilazer general counsel Archana Rajaram is understood to have led the legal advice on the investment in-house, assisted on due diligence by P&C Legal in Mumbai.

Hive India, the big data start-up fund by Amit and Arihant Patni, was assisted by Nishith Desai Associates (NDA) senior associates Karan Kalra and Sahil Shah.

Ashlar, which has a total of around five fee-earners right now in Mumbai, Bangalore and Kolkata, is currently in the process of finalising office space.

Khan and Bhadra started the firm after PXV was dissolved with three of its partners and some of their teams choosing to join Khaitan & Co.

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