Energy storage company, Cygni Energy has raised approximately US$ 12.5 million through a combination of equity and debt.
IndusLaw advised Cygni Energy on the deal.
The team was led by Manish Gupta (Partner), Nikita Goyal (Partner) and Deepansh Goyal (Associate)
The equity funding was led by Meridian and the debt round by Indian Overseas Bank1.
According to a release by LiveMint, the funds will be used for product development, business growth, to grow the engineering division, and to set up a new greenfield manufacturing facility in Telangana