J. Sagar Associates advised and assisted A91 in a Series B round investment in Exotel, a cloud telephony company. The transaction consisted of a primary investment and a secondary purchase of shares. A91’s primary investment was part of the Series B round of financing raised by Exotel. As part of the secondary transaction, A91 purchased shares from early angel investors, including the Mumbai Angels. Exotel is involved in the business of providing communication technology to enterprises through its Platform as a Service (PaaS) with private cloud infrastructure and connectivity to telecoms globally. A91’s investment and Exotel’s success are both a reflection of the accelerated growth of digital adoption witnessed during the COVID-19 pandemic.
Value of the transaction is INR 40 Crores.
JSA team comprised of Partners – Probir Roy Chowdhury and Tony Verghese, Senior Associates – Yajas Setlur and Radhika Gupta, Associates – Kavya Katherine Thayil, Rangam Sharma and Atul Lakshman.