Veritas helps defence tech firm Raphe mPhibr secure USD100 million
Veritas Legal guides Raphe mPhibr, a Noida-based defence and aerospace technology company, specialising in the production of end-to-end UAV solutions, and co-founders Vivek Mishra and Vikash Mishra in connection with a consortium’s USD100 million primary investment.
This transaction marks a significant milestone for India’s defence sector, enabling Raphe mPhibr to expand its aircraft design and manufacturing capabilities.
“We have been advising Raphe mPhibr for the past few years, including on fundraising transactions,” lead partner Manav Raheja told India Business Law Journal.
“The transaction is the largest private capital investment in the country’s defence technology and drone industry to date. It comes at a time when the Indian government has given significant focus and push to indigenous defence manufacturing, especially unmanned aerial vehicles (UAVs). Raphe’s drones have been deployed by the Indian armed forces, underlining the strategic importance of its defence-grade drones for the country.”
Raheja led the transaction team, with support from Principal Associate Ankit Kumar and Associate Kapeesh Grover.
The firm acted as strategic advisers and general counsel to the company and its founders, providing comprehensive legal support from deal structuring to documentation and closure. Veritas Legal has worked with Raphe mPhibr since its inception.
General Catalyst led the fundraising round, which included Think Investments and a group of high-net-worth individual (HNI) investors.
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