Cobalt Estonia advised ride-hailing platform Didi Chuxing on its investment in Estonian-based transport app Taxify.
Taxify has over 2.5 million customers in 18 countries. It has attracted EUR two million of venture capital investments.
According to DiDi Founder and CEO Cheng Wei, the investment, which is part of a broader strategic partnership, will help link up transport services in Asia with those in Europe and Africa. DiDi, which serves 400 million users across a variety of services in China, said it will help Taxify to grow its presence and to develop AI-powered transportation products in its regions.
Cobalt reports that it "advised Didi Chuxing in all legal aspects of the transaction, including legal due diligence, drafting the transaction documents, represented investor during negotiations and advised on other transaction related matters." The firm's team was led by Specialist Counsel Ott Aava, Partner Martin Simovart, and Senior Associate Karl Kull.
Editor's Note: After this article was published, CEE Legal Matters learned that a Njord team consisting of Partner Anne Veerpalu and Associate Siiri Traat-McClelland had advised Peaksjah OU — one of the first business angels of Taxify — on the deal, and that a Hedman Partners team consisting of Partners Valter Vohma and Dmitri Tsimpoaka, Associate Toomas Seppel, and Junior Associate Henrik Trasberg had advised Taxify.
