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TMT Law Practice Advises Labstreet in Raising $1,50,000 Angel Funding

TMT Law Practice acted as Legal Counsel for Kronica Medical Services Pvt Ltd which runs and operates, LabStreet, a demand aggregator for diagnostic labs, to raise Rs. 1 crore ($1,50,000) in angel funding from multiple investors including Chandigarh-based Click Labs. Led by Partner Kaushik Moitra and ably assisted by Aditya K. Singh, TMT Law Practice offered exceptional legal services to Labstreet in raising the funds according to the new provisions under the Companies Act 2013.

Founded by Lalit Mittal and Ujjwal Chaudhry, IIT-Delhi alumni, Labstreet is a single point solution for pathology tests that helps users to choose the right lab based on the lab’s accreditations, service quality. With a presence in Delhi-NCR, Bangalore and Pune, Labstreet has collaborated with select quality

Kaushik Moitra, Partner, TMT Law Practice said: “The firm has emerged as a preferred law firm for start-ups and ecommerce sector in India. The expertise and knowledge of the team is a great asset, which helped us to understand the interests of the stakeholders and ensured that statutory compliances are met within the specified timelines.”

Lalit Mittal, Co-founder, Labstreet, said “Indian Diagnostic industry is highly fragmented and undergoing rapid changes. TMT’s expertise, in-time support and deep understanding of the sector helped us in closing the transaction seamlessly and without any delay”.

Ujjwal Chaudhary, Co-founder, Labstreet added “The company is receiving tremendous response from Delhi, Bangalore and Pune. Hence, it was essential that this deal was executed efficiently to implement our growth strategies and soon expand to other metro cities in the nation.”

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