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New York-based investment powerhouse Tiger Global has invested Rs. 625 crore ($89.5 million) in agri-tech startup NinjaCart, a marketing and delivery platform for agricultural produce.
Tiger Global has picked up a 26.5% stake, valuing the company at close to $320 million, reported ET.
Khaitan & Co acted for NinjaCart and the team was led by Partner Arun Scaria along with Principal Associate Hardik Bhatia and Senior Associate Mrudul Dadhich.
Gunderson Dettmer acted for Tiger Global.
The Bengaluru-based 63Ideas Infolabs, which owns and operates Ninjacart, has issued 20,442 Series C compulsorily convertible preference shares at Rs 3,04,142.78 per share. It has also issued 100 equity shares having a face value of Rs 100.