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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 |
| Value | $7.5 million |
| Sector | IT |
| Deal Type | PE |
| 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.