Taxify, a ride-hailing startup born in Estonia closed $175 million in new funding that takes it valuation to the $1 billion mark. Daimler, the German automotive giant which owns Mercedes-Benz among other things, led the round.
COBALT advised Taxify`s shareholder, the world’s leading ride-hailing platform DiDi Chuxing in relation with an investment round of Taxify led by Daimler.
“We’re on a mission to build the future of mobility, and it’s great to have the support of investors like Daimler and Didi,” said CEO and co-founder Markus Villig in a statement. “This is just the beginning as more and more people give up on car ownership and opt for on-demand transportation.”
COBALT team was led by specialist counsel Ott Aava, partner Martin Simovart, senior associate Karl Kull and associate Liina Saaremets.
In August 2017 COBALT was the legal adviser for Didi Chuxing as well. Back then COBALT advised Didi Chuxing in all legal aspects of the investment into Taxify, including legal due diligence, drafting the transaction documents, represented the investor during negotiations and advised on other transaction-related matters.
Image source: Taxify