L&L Partners advises Sequoia in its investment in Twin Health Inc.

LE Desk

New Delhi, November 11, 2021: L&L Partners has recently advised SCI Growth Investments III,also known as Sequoia, in the recent Series C round of investment in Twin Health Inc., a company engaged in the business of providing health monitoring services.

The Law Firm said it acted as legal counsel to Sequoia and was involved in reviewing, negotiating and finalizing of the transaction documents, including the stock purchase agreement, investors’ rights agreement, ROFR and co-sale Agreement, voting agreement, restated charter, management rights letter and also coordinating with and advising the client on various aspects of the deal.

The L&L team comprised of Navin Syiem and Nitin Gera, Partners in the firm’s Corporate, M&A and PE practice, and Associate Sameer Deval.

Since the deal involved primary investments by multiple investors, the team was involved in advising on the overall structuring of the transaction including advising on the rights of Sequoia in the Company, the Law Firm said in a press statement.

The present investment was undertaken in the form of primary in the Series C funding round undertaken by Twin Health, L&L Partners said. The investment round involved existing investors like Sequoia along with participation from new investors like ICONIQ, Sofina, WR Biotech LLC (Ray Chambers), Rick Schnall, FW Investments, Tom Bernthal and Sheryl Sandberg, and other investors amounting for a total investment of approximately USD 155 Million.

 Founded in 2018, Twin Health provides the whole-body digital twin precision health service, which is a digital representation of each individual’s unique metabolism through data accumulated daily via non-invasive wearable sensors and self-reported preferences. It uses artificial intelligence and machine learning based technology to address chronic metabolic diseases, including Type 2 Diabetes.

Twin Health has more than 170 employees spanning across multiple verticals and it is planning to use the funds to scale up its global presence. The Company aims to increase the team size to facilitate the launch of nationwide service in India and the United States. The Company also aims to invest in machine learning and artificial intelligence to help solve the global chronic metabolic disease health crisis by addressing an even broader set of metabolic diseases.

This transaction was particularly challenging as rights and obligations of various investors were required to be accommodated in a series of transactions, the statement said. Hence, the deal was structured in a distinct manner to accommodate the interests of all the parties involved in the transaction, it said.