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Grofers gets new GC: Verus partner Siddharth Bhavnani joins trendy hyperlocal half-unicorn

Bhavnani to provide counsel to popular e-com start-up
Bhavnani to provide counsel to popular e-com start-up

Verus Advocates corporate and VC/PE partner Siddharth Bhavnani has joined start-up Grofers as its first general counsel (GC).

Bhavnani had joined Verus in 2014 from Dua Associates breakaway Tatva Legal.

Bhavnani, who had begun his career at Dua Associates after graduating from the University of Leicester in the UK in 2006, commented: "I've been working with (Grofers) now for a year as external counsel while I was Verus, and had the opportunity for a closer commercial relationship."

"I take very fond memories of Verus which is an ideal platform for someone looking to build a practice," he added.

Verus founder Krishnayan Sen told Legally India: "Grofers has been a long standing client for us and especially for Siddharth. He has decided to move in-house as their GC and I am sure it will be a very exciting role for him.

"We will, of course, continue to work together but will surely miss him as a partner."

Verus had been working with Grofers on corporate and litigation advisory, said Sen.

The start-up delivers groceries and other items from local shops direct to the consumers' doorsteps via its smartphone app.

Grofers latest funding round of $120m in November 2015, led by Softbank, valued the company at just under $400m - just $600m shy of much-vaunted (and largely meaningless) proverbial unicorn territory.

The main law firm beneficiary in the fundraisings, have been Shardul Amarchand Mangaldas and a range of private equity and venture-capital specialised firms.

Shardul Amarchand Mangaldas had been advising the Singapore-headquartered company on the November investment with a number of law firms for the funds, as well as on its $36m previous series B/C from Tiger Global, Sequoia Capital and Apoletto Asia.

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