DecoverAI and ElectricPE Raise Early Stage Funding New-age tech startups DecoverAI and ElectricPE have announced early-stage investments for further advancements in existing technology and market solidification.
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New-age tech startups DecoverAI and ElectricPE have announced early-stage investments for further advancements in existing technology and market solidification.
Leo Capital backs legal-tech revolution
DecoverAI, a legal technology company, has announced that it raised US$2 million in seed funding, led by Leo Capital and other investors. The company aims to revolutionize the justice delivery system by developing a comprehensive "Legal Brain" - an Intelligent AI system that integrates capabilities for real-world legal workflows, including evidence discovery, legal research, and strategy generation.
The process includes eDiscovery, legal search, and case strategy development to provide efficient assistance to legal professionals. DecoverAI's technical lead Janar Ramalingam previously built Authentication systems with users over 1 Billion at Yahoo.
Speaking on the funding, DecoverAI's CEO Ravi Tandon said, "We are incredibly excited about the potential of DecoverAI to revolutionize the legal industry. Our goal is to empower the best attorneys in the fraternity with the immense power and capabilities of large language models, enabling them to significantly uplevel themselves against their competitors. This funding will allow us to take significant strides towards realizing this vision and making a real difference for legal professionals."
The legal-tech firm's flagship feature- Generative Defence is expected to automate complicated legal analysis allowing for an efficient compiling of defense strategies.
Commenting on their investment in DecoverAI, Ravi Srivastava, Partner, Leo Capital said, "Leo Capital is proud to support DecoverAI in their mission to transform the legal landscape. The innovative approach of creating a 'legal brain' and pioneering Generative Defense sets DecoverAI apart in the legal tech space. We are confident that this technology will drive significant improvements in how legal professionals work."
The funding raised is said to be used in the development and deployment of DecoverAI's tech, enhancing the 'Legal Brain' capability to deliver more accurate and actionable insights, as well as Generative Defence to engulf a broader range of legal scenarios alongside engineering growth.
"DecoverAI's Generative Defense is a game-changer for the legal industry. It represents the next generation of legal technology, providing tools that were previously unimaginable. We are thrilled to have the support of our investors as we embark on this journey," added Kevin Van Horn, COO & CRO of DecoverAI.
Green Frontier Capital leads ElectricPe funding round
Green Frontier Capital, an early-stage VC fund with operations in India and the U.S., has led a US$3 Million pre-series A Round for ElectricPe, India's EV super-app. The round also saw participation from existing lead investors such as Blume Ventures, Micelio Fund, and NB Ventures.
The investment is poised to help ElectricPe solidify its market presence as a comprehensive solution for EV users and expand to new locations. The platform's full-stack 'Super App' is known to identify, access and even allow payments for EV chargers regardless of the charging type.
ElectricPe's multi-brand stores also allow prospective buyers in the market to browse through a wide range of E-2 wheelers with access to financing, subscription, and post-purchase services.
Sandiip Bhammer, Managing Partner of Green Frontier Capital, said, "Green Frontier Capital is committed to backing innovative companies that are shaping a sustainable future. ElectricPe's comprehensive approach to addressing the challenges in EV adoption aligns perfectly with our investment thesis. In just a few years, ElectricPe has achieved strong user acceptance and trust. We have also witnessed significant growth on its platform and are on the path to profitability. We're excited to support ElectricPe in their growth journey."
The company now operates more than 25000 public charges with its Super App experiencing a 30 per cent month-on-month (MoM) growth, facilitating over 28 Million green kilometres for its users. ElectricPe also has a 15% market share in Bangalore's EV two-wheeler market.
Avinash Sharma, Co-Founder and CEO of ElectricPe said, "Our goal is to drive EV adoption by consolidating everything in one place—charging, EV buying, and servicing. We have always believed in stage-by-stage funding, and this $3 million investment marks the closure of our pre-series A round at $8 million, which began last year with $5 million. ElectricPe will continue to address the gaps in the sector and build 'the defacto' single platform to cater to all EV needs for our customers."
