CMS INDUSLAW advises Freehand on $75M Series B fundraise co-led by Battery Ventures and NewRoad Capital Partners

PE / VC 29 Jul 2026· $75 million · Completed· ✓ Verified

Freehand, founded in February 2024 by Nitin Jayakrishnan and Abhijeet Manohar (both former Pando logistics founders), operates in stealth until public emergence in February 2026 with already-live Fortune 500 deployments. The Series B brings total funding to $100 million (following a $25M Series A in March 2024). Freehand's autonomous AI agents audit, dispute and process supplier invoices, negotiate contracts and reconcile payments directly within enterprise ERPs and procurement systems. Customer deployments report 5–10% spend recovery, 5–7x workflow acceleration, and 70%+ reduction in procure-to-pay cycle times. No valuation disclosed; CEO Jayakrishnan described the round as a "significant…

Why it mattersCross-border venture fundraises involving US-headquartered startups with Indian co-founders increasingly involve tier-1 Indian counsel (CMS INDUSLAW here) on the financing side, signalling deep integration of Indian tech talent into Silicon Valley funding workflows and potential downstream M&A structuring implications.
CounselCMS INDUSLAW
SectorTechnology
Value$75 million
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