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SAM continues with Swiggy in $210m mandate to help it become yet another Indian unicorn

“Swiggy raised $210 million from a group of investors, catapulting India’s largest food delivery service provider into a select club of startup unicorns with a valuation of $1 billion or more. The latest funding, led by Naspers and billionaire Yuri Milner’s DST Global, values Swiggy at roughly $1.3 billion, surpassing rival Zomato’s $1.1 billion valuation based on a February fund-raising round. China’s Meituan-Dianping has also invested in the latest funding round, along with new investor Coatue Management,” reported Mint.

Shardul Amarchand Mangaldas (SAM) acted on behalf of Swiggy (Bundl Technologies) and its promoters and certain existing investors, with the VC transaction team led by Bangalore-based partner Siddharth Nair, including senior associate Asmita Mishra and associate Shachi Singh. The firm was involved in drafting, reviewing iterations of, and negotiating the share subscription agreement and shareholders’ agreement; and assisting with closing and post-closing actions, according to its press release.

Nishith Desai Associates acted for existing investor Naspers , DST Global and new investors Coatue Management, led by its lawyers Vaibhav Parikh, Karan Kalra, Aishwarya H, Shipra Padhi, Ankit Porwal and Swati Sharma.

US firm Orrick acted for new investors Coatue Management.

Gunderson Dettmer acted for Naspers as international counsel.

Goodwin Procter acted for DST Global.

Chinese firm Han Kun Law Offices acted for Meituan-Dianping.

SAM had also acted for Swiggy in February on its $100m Series F round, where Nishith Desai Associates had acted for Naspers.

2018-06-21

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