DSK Legal advised CK Jaipuria Group in its investment in Home-grown gamified social media app “Explurger”. Explurger is a new-age social media platform built on Artificial Intelligence (AI), which was launched on August 15, 2020. Apart from India, the app debuted in the US, Britain, Germany, South Africa, etc. and already has users from more than 40 countries.
The AI of the app automatically creates a travelogue for its users, keeping a count of the exact miles, cities, countries and continents a user has travelled to. The users can even create a bucket list of places he wishes to visit and share his future travel plans with fellow Explurgers.
CK Jaipuria Group has investments encompass various sectors including Real Estate, Beverages, Retail, Engineering, IT and Plastics.
DSK Legal assisted CK Jaipuria Group in inter alia: (i) reviewing, revising and negotiating of the Share Subscription cum Share Holders Agreement; and (ii) Closing of the transaction.
Date of Execution of Documentation: November 20, 2021
Date of Closing: December 7, 2021
The DSK core team representing CK Jaipuria Group, for the transaction comprised of Harvinder Singh, Partner (who acted as the lead partner on the transaction), Shruti Dogra, Principal Associate and Archit Gupta, Associate.
Mr. Aparajit Bhattacharya, Partner, acted as the relationship partner and provided strategic inputs on the transaction.