India

Argus Partners is pleased to announce that it has acted as legal advisor to Moving Tech Innovations Private Limited (“Moving Tech”), the Bengaluru-based mobility technology company behind some of India's most widely used ride-hailing and public transport platforms (such as Namma Yatri, Yatri Sathi, Odisha Yatri, Chennai One and Bharat Taxi) in connection with its acquisition of Automicle Holding BV, a company incorporated and headquartered in the Netherlands. This transaction represents a significant milestone in Moving Tech's growth trajectory, marking the company's first international acquisition and its strategic entry into the European urban mobility landscape. Through this acquisition, Moving Tech aims to extend its distinctive zero-commission, community-led mobility model, one that has fundamentally reimagined the relationship between drivers, riders, and technology platforms across Indian cities, to European markets. Moving Tech's platforms have been widely recognised for prioritising driver welfare and operational transparency by eliminating the commission-based structures that characterise conventional ride-hailing services. The company now seeks to bring this philosophy to bear in European cities through Automicle Holding BV. The team at Argus Partners advising Moving Tech consisted of Anantha Krishnan Iyer (Partner) and Shubham Tiwary (Associate). Read more at: Moneycontrol, Business Standard

We are pleased to announce that Argus Partners advised India Resurgence Fund (“IndiaRF”), an equal joint venture between Piramal Enterprises Limited and Bain Capital Credit, on the sale of its entire stake in Setco Auto Systems Private Limited (“SASPL”), a subsidiary of Setco Automotive Limited to RSB Transmissions (I) Limited, a Pune-based transmission manufacturer. The team at Argus Partners advising IndiaRF consisted of Aastha, Adity Chaudhury and Arka Majumdar (Partners), Umang Pathak (Senior Associate), Dharma Teja Palada, Dharani Maddula and Anika Sharma (Associates). Read more at: Autocar, VCCircle.

Argus Partners is pleased to announce that it has advised Moving Tech Innovations Private Limited (Namma Yatri) on its convertible bridge fundraise from several investors, including Blume Ventures and Antler. Moving Tech has raised INR 39.75 crore in this round, led by Juspay founder Vimal Kumar, with participation from Blume Ventures, Antler, Navin Dalmia, Plutus Investment Trust, Phi Investment Partners, and a group of angel investors. This fundraise follows Moving Tech's USD 11 million raise from Blume Ventures, Antler, and Google in July 2024. Moving Tech is a Bengaluru-based mobility technology company building digital platforms that help cities run fair, affordable, and reliable transport systems. The company develops and operates mobility applications that connect drivers, passengers, and public transport networks. Its flagship platform Namma Yatri began in Bengaluru and has grown into a widely used driver-first ride-hailing service. Moving Tech also powers large public mobility initiatives such as Bharat Taxi, as well as city and state platforms including Yatri Sathi (West Bengal), Kerala Savaari, Odisha Yatri, and Chennai One, which integrates multiple transport modes in a single app. Through partnerships with governments, transport authorities, and driver communities, Moving Tech aims to make urban mobility more accessible while improving livelihoods for drivers across India. The team at Argus Partners advising Namma Yatri consisted of Anantha Krishna Iyer (Partner) and Khushi Bhardwaj (Associate). Read more at: Entrackr; Finance Outlook India

Argus Partners is pleased to announce that it has advised Philips India on the sale of its emergency care business in India. This transaction forms part of a broader global deal in which Philips' emergency care business was acquired by Emergency Care Holdings (ECH), a platform backed by Bridgefield Capital. Following the acquisition, the business will operate as Heartstream, continuing to manufacture and market emergency care products under a long-term Philips brand licensing agreement. Heartstream is a global emergency care company with nearly four decades of leadership in emergency medicine technology. The acquisition marks the launch of Emergency Care Holdings' global platform strategy, aimed at building a leading portfolio of emergency medical technology companies serving the pre-hospital care market. The team at Argus Partners advising Philips India consisted of Adity Chaudhury (Partner), Arka Majumdar (Partner) and Anika Sharma (Associate).