Artificial intelligence-enabled legal technology firm Legitquest on Friday said it has raised a seed funding of Rs 3 crore from internet firm InfoEdge (India) and venture capital fund WaterBridge Ventures.
Legitquest plans to use the funds to expand its team and develop the AI capabilities related to issue, decision, reasoning, arguments and facts, the company said in a statement.
The company said, “It has raised a seed funding of Rs 3 crore from India’s leading pure-play internet company InfoEdge (India) and leading early-stage venture capital fund WaterBridge Ventures.”
“We started the company with a vision to help lawyers become more effective by leveraging cutting-edge technology. I am excited to welcome InfoEdge and WaterBridge Ventures on this journey of transforming the legal profession,” Karan Kalia, co-founder and Chief Executive Officer Legitquest said.
Last month, an other legal tech startup Legalkart raised seed funding of around 3.5 Cr from a group of angel investors.
To recall, in February this year one of India’s largest full-service law firms, Cyril Amarchand Mangaldas, has launched first of its kind legal tech startup incubator called Prarambh, which aims to support new technology-based solutions for the legal industry in such areas as dispute resolution, transactions, law firm operations, legal research, compliance, contract management, access to justice, and legal talent management.
Notably, Cyril Amarchand is the first Indian law firm to adopt artificial intelligence technology in its day-to-day practice, signing up with Canadian machine learning software provider Kira Systems.