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Samvad, IndusLaw on MoveInSync’s $8m Series B raise from Nexus Venture Partners, others

“Office commute automation platform MoveInSync has raised $8 million (Rs 52 crore) in a Series B round of funding led by homegrown venture capital firm Nexus Venture Partners, a company statement said.”, reported VC Circle. The funding also saw participation from the existing investors Inventus Capital Partners, Saama Capital and Qualcomm Ventures.

Samvad Partners advised MoveInSync Technology Solutions as well as the existing investors on all aspects of the transaction, and was led by partner Nivedita Nivargi, senior associate Anisha Shroff and associate Bhadra Menon.

IndusLaw advised Nexus Ventures in the fundraising.

Bangalore-headquartered MoveInSync uses patented algorithms to ensure optimum vehicle utilisation and employee commute time enabling enterprises to manage their significant spend on transport vendor invoices and has a client base of over 50 customers including 50 customers including Google, Microsoft, Amazon, Adobe, Wipro. The current funding is reported to help the company to further develop the end to end transport offerings, accelerate customer acquisition and launch international markets.

2018-03-01

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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