Deal Closed I SVF II Darwin (Cayman) Limited (SoftBank) | Series F Investment in Unacademy
Sorting Hat Technologies Private Limited (Unacademy) has raised $150 million in a round of funding led by SoftBank valuing the ed-tech firm at $1.45 billion.
Details of the deal are as under:
Announcement Date: 02-Sep-2020
Name of Client: SB Investment Advisers (UK) Limited
Investor Name: Softbank
Deal Description: Advised Softbank in relation to series F Investment by Softbank and certain existing investors in Sorting Hat Technologies Private Limited (Unacademy) by way of subscription to primary securities.
Total Consideration: USD 150 million
Team Members: The core team comprised of Bharat Anand (Partner), Nidhi Killawala (Principal Associate) and Bhavna Pattanaik (Senior Associate) with assistance from the following:
Due Diligence (DD) aspects:
Corporate DD: Akshay Kumar Sharma (Senior Associate), Shivam Tandon (Senior Associate) and Sushmita Sarin (Senior Associate);
Intellectual Property DD: Shailendra Bhandare (Partner), Sourav Dan (Senior Associate) and Rhea Ghanshani (Associate);
Data Privacy DD: Supratim Chakraborty (Partner), Sumantra Bose (Senior Associate) and Sneh Lata (Associate);
Employment Law DD: Anshul Prakash (Partner) and Abhinav Rastogi (Principal Associate);
Regulatory inputs: Monika Srivastava (Partner)
Role of Firm: Assisted Softbank in conducting legal due diligence of Sorting Hat Technologies Private Limited, negotiations and finalizing the transaction documents.
Other legal advisors if any with names of Lead Lawyers: IndusLaw assisted Sorting Hat Technologies Private Limited (Unacademy) on the transaction.
