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Legal tech startup Lucio raises $5 Mn led by DeVC

EntrackrEntrackr · 1d ago
Legal tech startup Lucio raises $5 Mn led by DeVC
Medial

Legal tech startup Lucio raises $5 Mn led by DeVC Lucio, a legal tech startup, has raised $5 million led by DeVC, with participation from investors such as Ashish Kacholia and Lashit Sanghvi. The proceeds will be used to improve its product features and expand its reach to more law firms and professionals. It also plans to strengthen its AI models, build more integrations with legal databases, and expand its presence in new markets. Lucio is based in India and focuses on developing technology that helps legal professionals work smarter and faster. Lucio is creating an AI-native workspace that helps lawyers manage their daily tasks in one place. The platform supports work like document drafting, review, legal research, translation, and compliance tracking. Instead of switching between different software tools, lawyers can use Lucio to handle all major tasks within a single system. It is already working with over 200 organizations and has more than 3,000 lawyers using its platform across nine jurisdictions.

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Exclusive: Ziffi Chess raises over $5 Mn led by Tanglin Venture

EntrackrEntrackr · 1m ago
Exclusive: Ziffi Chess raises over $5 Mn led by Tanglin Venture
Medial

Exclusive: Ziffi Chess raises over $5 Mn led by Tanglin Venture Ziffi Chess, a 2 min chess format game, has secured Rs 44.2 crore ($5 million) in its Series A round led by Tanglin Venture Partners along with participation of existing investors India Quotient, DeVC and others. Previously, Ziffi raised around Rs 7.3 crore in Seed round across 2 tranches from India Quotient, DeVC and few other angel investors. However, the company did not disclose both funding rounds (nearly $6 million) in the media. The board at Ziffi Chess issued 3,792 Series A CCPS and an equity share at an issue price of Rs 1,16,583 each to raise the aforementioned amount, as per its regulatory filing with the Registrar of Companies (RoC). New investor Tanglin Venture Partners spearheaded the round with Rs 34.4 crore (around $3.9 million) followed by existing investor India Quotient via IQ Alpha IV who invested Rs 8.6 crore. Remaining amount covered by DevC, Symphysis LSV LLP and Rohan Nayak. According to Entrackr’s estimates, the Gurugram-based company is currently valued at Rs 206 crore or $23.5 million post-allotment. Following the allotment of this round, Tanglin Venture Partners holds a 16.67% stake in the company, while India Quotient owns 15.2%. The two co-founders, Akshat Bansal and Aditya Dubey together retain a 53.54% stake. Founded in 2023 by IIT-B alumni Akshat Bansal and Aditya Dubey, who previously led the quick-commerce pivot at Blinkit, Ziffi Chess brings a fresh take on the game with its unique 2-minute, 6-move format. It allows players to compete in quick matches and win cash rewards. While games can be played for free, the tournament mode features a prize pool of Rs 350. After the government’s blanket ban on real-money online gaming, Ziffi Chess now allows users to play matches free of cost. Earlier, it charged an entry fee starting from Rs 10, according to a review on the App Store. In Ziffi’s first year of operations in FY24, it recorded an operating revenue of Rs 1.5 lakh while its expenses recorded at Rs 87.65 lakh. During the period, the company incurred a loss of Rs 86 lakh.

AI paralegal startup Jhana raises $1.6 Mn in seed round

EntrackrEntrackr · 1y ago
AI paralegal startup Jhana raises $1.6 Mn in seed round
Medial

Jhana, a legal-tech startup specializing in AI-powered legal assistants, has raised $1.6 million in a seed funding round led by Girish Mathrubootham (founder of Freshworks) and Manav Garg (founder of Eka Software), through their VC fund, Together Fund. The round also saw participation from several high-profile investors, including Shyamal Anadkat of OpenAI, Scott Davis from VMWare, Kunal Shah, founder of CRED, Harshil Mathur and Shashank Kumar—the founders of Razorpay, Cory Levy— the founder of First Text, Z Fellows, and, After School, and Ojas Shukla, the company said in a press release. As per the company, additional funds are expected from Indian investors, with the complete round to be publicly disclosed soon. Jhana plans to use the new capital to develop its proprietary legal datasets and models further, while also expanding its team with researchers in law and artificial intelligence, the company added. Founded in 2021 at Harvard University, Jhana provides AI-driven legal assistants designed to help lawyers, law firms, and in-house legal teams streamline research and document review processes. Jhana’s AI paralegal solutions allow users to produce legal outputs—such as propositions, citations, and full-fledged memos—based on natural language inputs. The system draws from a proprietary database of over 15 million case law records, statutes, academic sources, and web-based references, ensuring accuracy and comprehensiveness in legal research. The startup also offers customizable and siloed AI solutions for enterprise clients, enabling them to integrate AI into their existing cloud and file ecosystems. By leveraging AI, Jhana’s solutions aim to increase productivity and reduce errors in legal work. With this funding, Jhana is set to advance its AI-driven legal technology and expand its footprint in India and beyond.

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