J. Sagar Associates (JSA) advised OFB Tech Private Limited (OFB Tech) in its fund raise of USD 160 million (about Rs 1,190.53 crores) at a valuation close to USD 1.5 billion. SoftBank’s Vision Fund 2 backed this round, which also saw participation from Falcon Edge and Matrix Partners. With this round, OFB Tech becomes the 18th Indian startup to attain the unicorn status this year. OFB Tech operates B2B e-commerce platform and offers raw material procurement service and credit to small and medium enterprises (SMEs) through its non-banking financial company (NBFC) Oxyzo Financial Services Private Limited. OFB Tech focuses on the manufacturing and infrastructure sectors. OFB Tech also offers marketing services through its BidAssist platform.
The deal value of the transaction is USD 160 Million.
JSA team comprised Lead Partner – Lalit Kumar, Partner – Bharati Joshi, Senior Associate – Amandeep Singh Virk, and Associate – Manan Kapoor.