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ALMT & 7-yr-old Delhi firm Obhan bill mPOS start-up Mosambee for $1m SIDBI seed

 

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Obhan & Associates advised Mumbai-based multi-mode payments start-up Mosambee, which received Rs 5.4 crore ($1m) in seed funding from SIDBI Ventures that drew in ALMT Legal.

Mosambee had instructed partner Ashima Obhan, who heads up the corporate and M&A practice at Obhan & Associates. She had joined the Delhi-based firm from AZB & Partners in 2011, where she was a senior associate.

ALMT Legal Mumbai partner Statira Ranina with senior associate Siddhi Ghatlia acted for SIDBI Ventures. The funding will be used by the mobile point of sales (mPOS) company for marketing aand scaling up in South East Asia and the western markets, according to Medianama. VCCircle reported that the company is run by Synergistic Financial Networks and started operating in Dubai three months ago. It is currently on pilot trials in India.

Obhan & Associates was started seven years ago by managing partner and patent lawyer Essenese Obhan, who had previously wokred with intellectual property (IP) specialist firm Anand & Anand.

Ashima Obhan said the 20-lawyer firm had recently inducted a third partner - Anupam Pandey - who specialises in trademarks and copyrights and used to work with her at AZB.

 

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