Amikus AI, a Bengaluru, India-based AI-powered legal tech raised over Rs 96 lakh in a pre-seed round led by Inflection Point Ventures (IPV).
The funds will be used to expand its product team, including employing more front-end, back-end, and machine-learning developers.
Saahil Dama, CEO of Amikus AI says, “Legal tech is a challenging but exciting industry. By leveraging artificial intelligence and machine learning, Amikus AI is poised to change the way in which lawyers review and draft contracts. I’m glad that IPV shares this conviction and is supporting Amikus AI through its journey. The strategic insights and networking opportunities provided by IPV have been invaluable for the company.
Amikus AI targets over $50 billion in the total available market with 2,000,000 potential customers, including law firms of all sizes, in-house legal teams at start-ups, medium-sized companies, and large companies, as well as boutique lawyers.
Company: Legalsense Technologies Pvt. Ltd.
Raised: Rs 96 lakh
Funding Month: December 2022
Lead Investors: Inflection Point Ventures (IPV)
Company Website: https://www.amikus.ai/
Software Category: AI-powered Contract Drafting and Analysis
About the Company: Founded in 2021 by National Law University alumni Saahil Dama and Avi Agarwal, Amikus AI is a legal-tech business that focuses on the rapidly expanding industry for worldwide contract lifecycle management. It provides AI-powered contract drafting and analysis. It uses AI to automate contract preparation and review and remove redundancies, and generate insights to improve efficiency and accuracy in contract review. It also uses machine learning to increase lawyers' productivity by 40 percent while creating and evaluating contracts.