Khaitan & Co advised TVS Motor on Rapido deal
Khaitan & Co advised TVS Motor on Rapido deal
The deal is in line with TVS Motor's expansion into two and three-wheeled electric vehicles segment.
Chennai-based TVS Motor Company has partnered with Bengaluru-based Rapido, a bike taxi aggregator and logistics service provider, as opportunities in the food deliveries segment have grown multifold.
TVS Motor, under its flagship company TVS Group, and food delivery major Swiggy collaborated to use TVS Motor's electric vehicles for food delivery and other on-demand services.
The deal is in line with TVS Motor's expansion into two-and three-wheeled electric vehicles segment.
Rapido was founded in 2015, by Rishikesh SR, Pavan Guntupalli, and Aravind Sanka. The company received USD180 million in funding from Swiggy in April, raising its valuation to USD830 million.
Apart from TVS Motor, the series D funding had investors including Westbridge, Shell Ventures, and Nexus Ventures.
Khaitan & Co's Partner Vivek Sriram with associates Aswathy Thomas and Nabarun Chandra Ray advised TVS Motors on the deal.
