CMS INDUSLAW advises Elevation Capital and Nexus Ventures on Comet Series B fundraise

CMS INDUSLAW acted as legal counsel to Elevation Capital and Nexus Ventures (the “Investors”) in connection with a Series B fundraise by Grails Marketing Private Limited, trading as Comet (the “Transaction”). The Transaction involved a raise of INR 100 crore, led by Verlinvest with participation from the Investors as existing shareholders.

The firm advised the Investors in connection with the fundraise, which will be deployed toward retail expansion, product and technology development, and research and development. Comet has stated targets of reaching 20 stores by FY27 and expanding its footwear portfolio from four to eight models.

The Transaction team consisted of Shantanu Singh (Partner), Winnie Shekhar (Partner), Anshul Bhuwalka (Senior Associate), Arnab Chakraborty (Associate) and Mukul Sharma (Associate). The team was supported by the Corporate Secretarial team comprising Ruhi Jain (Executive Director), Akshay Madhvani (Assistant Manager) and Adarsh Joshi (Assistant Manager).