Challenge in the balance for Rooter fundraise

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New Delhi-based Ahlawat & Associates advised Rooter Sports Technologies, a content and social platform for non-English speaking sports fans, when it recently raised US$1.7 million in a pre-series A investment round from One 97 Communications, the parent company of Paytm, and other investors.

Investors included: leAD Sports, a fund backed by the descendants of Adi Dassler (founder of Adidas), which has had a stake in the company since 2019; Rockstud Capital; and Founder Bank Capital, an early-stage arm of RB Investments.

Uday Singh Ahlawat, managing partner of Ahlawat & Associates, told India Business Law Journal: “The challenge was to balance strategic and financial investor expectations.”

The firm also advised leAD Sports. Its team included senior associate Sheena Ogra and associates Gitika Kohli and Disha Toshniwal.

Paytm’s in-house legal team, which included senior manager of legal, Ankit Jaiswal, represented it along with a team from Shardul Amarchand Mangaldas & Co.

A team from Khaitan & Co comprising partner Mayank Singh, senior associate Shivam Tandon and associate Deeksha Agarwalla advised Rockstud Capital.

The deal was signed in the second half of April and is expected to close in June. Ahlawat said that the lockdown to contain COVID-19 made it “a different experience”, but also “a great learning experience”.