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Vertex SEA Fund I Pte. Ltd has invested $7.5 million in Bangalore-based tech startup Flutura Business Solutions Private Limited. This deal marks the largest series A funding in the Internet of Things sector. Lumis Partners and Hive Technolgies Trust Scheme I also invested in the deal, reports TechCircle.
|Deal||Vertex Ventures invests in Flutura|
|Law Firms||IndusLaw – Vertex Ventures; JSA – Flutura; Nishith Desai Associates – Hive|
|Partners/Heads||IndusLaw – Anupam Prasad; J Sagar Associates – Arjun Perikal; Nishith Desai Associates – Karan Kalra|
IndusLaw advised Vertex on the deal, through a team led by Partner Anupam Prasad, along with Senior Associate Deepti Agheda and Associate Nikita Rajwade.
J Sagar Associates represented Flutura through Partner Arjun Perikal and Associate Jeevith Belliappa.
Nishith Desai Associates acted for Hive, through Partner Karan Kalra and Associate Dipanshu Singhal.