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Billing infra startup Togai to be acquired by US-based Zuora

Press Release  

NYSE-listed Zuora has acquired Chennai-based software billing and metering solutions startup Togai.Togai was founded in 2022 by Abhishek Rajagopal, Aravind Sriraman, and Tholkappiyan Velavan, who will join Zuora with Togai employees. Togai’s metering and rating solution will become a part of Zuora’s existing product suite. It will be available both as a new standalone usage offering and with Zuora’s existing consumption solution.Foros is acting as financial advisor and Freshfields Bruckhaus Deringer US LLP as legal advisor to Zuora. QED Corporate Advisors is acting as financial advisor and Argus Partners as legal advisor to Togai.

In June 2023, Togai had raised USD 3.10 million from Together Fund, Boldcap, Core91 and Prasanna Shankar, co-founder of Rippling.