Linklegal India Law Services advised Ru-Net Limited, the lead investor in $20 million round investment in Faaso’s Food Services Private Limited, a technology-focused quick-service fast-food restaurant chain backed by Sequoia Capital. Ru-Net was joined by the existing investors, Sequoia Capital and Lightbox Ventures in its investment in Faaso’s.
Linklegal team was led by its Partner Manish Gupta, who was assisted by Associates, Sweta Rao and Ashish Ahluwalia. The company was represented by Siddharth Nair, Partner and Hardik Bhatia Associate of BMR Legal, Bangalore. Dheeraj Khanna, senior associate of Themis Associates advised the existing investors, Sequoia and Lightbox.
Pune-based Faaso's, claims to be a food on demand company, launched its mobile app last year in March and it claims that 70% of its orders now come through the internet. At present, it hawks wraps and biryanis from 90 outlets across six cities namely Pune, Mumbai, Bangalore, Chennai, Ahmedabad and Baroda.
Jaydeep Barman, a former McKinsey and Co executive, had founded Faaso's with his batchmate Kallol Banerjee. Both Barman and Kallol are engineers with MBAs from IIM Lucknow and INSEAD.
Ru-Net is a Russia-based investor and has invested in Indian companies like Snapdeal, Pepper Tap, Appsdaily etc. in the past.
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