IndusLaw drives Bounce-Wickedride scooters into $72m Series C with JSA, SAM, Themis, Goodwin

Friday, 21 June 2019 By Legally India Private equity / VC

Two-wheeler rental startup Bounce raised $72 million in its series C funding round led by global technology fund B Capital Group and Falcon Edge Capital, a New York-based hedge fund. Accel Partners India, Accel Partners USA, Chiratae Ventures, Maverick Ventures, Omidyar Network India, Sequoia Capital India and Qualcomm Ventures, the investment arm of Qualcomm Inc, also participated in the round.

— Mint

IndusLaw advised Wickedride Adventure Services Private Limited (which operates Bounce), and Accel Partners India, Accel Partners USA, Omidyar Network’s ON Mauritius, Qualcomm Asia Pacific Pte Ltd;;. The team was led by senior partner Srinivas Katta and partner Pallavi Kanakagiri. It also included senior associate Anantha Krishnan Iyer, associate Abhishresth Goswami and associate Adarsh Kumar.

(Link Legal India Law Services and Rajaram Legal had advised Wickedride on a previous funding round, with Rajaram as its deal counsel, but it is understood that Wickedride went with Indus due to a potential conflict issue this round).

J Sagar Associates (JSA) Gurgaon partner Manvinder Singh, with lawyers Anant Mishra, Divyam Sharma and Aman Parnami advised B Capital Asia II Ltd.

Goodwin Procter Hong Kong partner Yash A Rana, with lawyers Ananth Lakshman and Abhishek Krishnan advised Falcon Edge India I LP.

Shardul Amarchand Mangaldas partners Raghubir Menon and Ekta Gupta, with lawyers Tanya Choudhary and Srishti Maheshwari acted for Maverick Ventures.

Themis Associates Bangalore lawyers Siddharth Seshan, Utsav Gandhi and Shivani Setty acted for Sequoia Capital India and Chiratae Trust.

2019-06-01

{incomplete}

Comments

Guest 22 Jun 2019, 18:25

+5 -1

I m very depressed and no one to talk to

kianganz 22 Jun 2019, 20:04

+44 -0

Really sorry to hear that. I can promise you that things can get better, even if it doesn't seem that way right now. You might not be aware that depression in the profession (or even outside, if you're not a lawyer) is probably more common than you think. There's also far less stigma attached these days to seeking professional help or counselling, which can really help and can guide you to making positive life changes. And sometimes it's worth considering whether it's your environment that's making you depressed - changing jobs or careers can help sometimes...

Y 23 Jun 2019, 06:23

+6 -0

Kian, on that note, maybe its time for some feel-good stories on LI about young law grads doing inspiring things--- a change from the cut-throat, competitive world of law firms?

Nice Guy Kian 24 Jun 2019, 15:21

+21 -0

Hey, Kian. I'm not your biggest fan - I've seen you sensationalise and be a gossip merchant. But your response here is really nice. It seems genuine (and not virtue signalling), and I must commend you for it. When I first saw that comment no. 1, I am ashamed to admit that I scoffed only to see your reply, and I looked inwards to how desensitised and cynical we can often be in this (admittedly small) lawyer bubble. I completely endorse what you had to say as well. Even if sometimes people troll about these things, I think we should all presume bona fides. It's alright if comment 1 is not serious, and enjoying the lulz at our concern. It's worth it, in the chance that is a bona fide comment. I would rather be embarrassed than not try to at least make someone feel better when they're down. Thank you Kian for being a good man. It's inspired me to be better than the cynical douche I've become.

kianganz 25 Jun 2019, 13:05

+9 -0

Thanks for writing in and sharing. Rest assured, I'm also a cynical douche most of the time but I found the comment very sad, and I know they are not the first person to feel that way. Of course depression is not super easy to 'fix', but the easiest thing we can probably all do in the profession is to begin talking about it more openly so it can be treated properly and help can be given where required.

Bounce 27 Jun 2019, 09:03

+1 -0

@Nice Guy Kian & Kian - I love you guys too!!

Didn't want to miss out on the bromance :)

Brandon Stark 25 Jun 2019, 14:22

You are a good man

Bounce 27 Jun 2019, 08:08

+6 -3

Is this the same sector as Ola / Uber? Never heard of them.

Also, out of curiosity, how did Indus bangalore office represent so many parties? No conflict? I am sure all those they represented would have been on board - but how do you negotiate a (say) RoFO/ RoFR clause.

Indus lawyer with one phone in each hand:

- Right hand phone: We need the RoFR.
- Left hand phone: Nope, we can only concede a RoFO.
- Right hand phone: This is not done. This was agreed in the term sheet.
- Left hand phone: The term sheet only stated that customary share transfer restrictions will be incorporated. RoFO is also customary.
- Right hand phone: We will have to raise this with the principals.
- Left hand phone: We will also seek feedback and get back to you.

Toughest part: Indus lawyer calls both clients - but which one does he advice to concede? To find put, tune into our next episode of "Kissa Conflict Ka".

Commenting is closed for this article.