Deal Closed | Iron Pillar | Investment in Servify

Device-assistance platform Servify closes Series C funding round.

Details of the deal are as under:

Announcement Date: 23-Sep-2020

Name of Client: Iron Pillar Top-Up Fund (C22841)

Deal Description: Khaitan & Co advised Iron Pillar in relation to its USD 11 million Series C investment in Service Lee Technologies Private Limited, a company better known by its brand name 'Servify'. The Series C fundraise also saw participation from Blume Ventures (Opportunities) Fund IIA and Tetrao SPF.

Iron Pillar led the ~USD 23 million Series C round with an investment of ~USD 11 million.

Total Consideration: USD 11 million

Team Members:  Kartick Maheshwari (Partner), Akshay Bhargav (Partner), Tanushree Bhuwalka (Principal Associate), Tanvi Arora (Senior Associate) and  Gautam Suseel (Senior Associate) represented Iron Pillar on this transaction, with assistance from Aman Dwivedi (Senior Associate) on corporate aspects.

Role of Firm: Khaitan & Co acted as counsel to Iron Pillar in the Series C fund raise by Service Lee Technologies Private Limited, a company doing business as and better known by its brand name 'Servify'. 

Servify is an aftersales service platform that integrates multiple partners including repair centres, logistic partners, payment gateway, distributors and retailers. 

Other legal advisors if any with names of Lead Lawyers: J. Sagar Associates (JSA) acted as counsel to Servify