Osborne Clarke has advised the European investor Redalpine Venture Partners on its investment in the AI start-up LegalFly as part of a seed financing round.
LegalFly's product is a co-pilot tailored to legal teams – based on artificial intelligence (AI) – and combines technology with legal expertise. One of its special features is the strict anonymisation of all legal documents, which guarantees users the necessary data security. This is how LegalFly aims to ensure greater efficiency; the start-up recently won second place in the Legal AI Supplier of the Year category at the British Legal Technology Awards.
The start-up's solution currently includes functions for litigation support, contract review, contract drafting and anonymisation and is available for the US, UK, France, the Netherlands and Belgium; further expansion is planned.
To this end, LegalFly has now successfully completed a seed financing round: Led by Redalpine, together with Mehdi Ghissassi, Director of Product at Google DeepMind, more than EUR 2 million was raised.
At a crucial time – since the launch of the beta version in June this year, LegalFly has won over dozens of law firms and companies. Now the growth can be further accelerated and the foothold in the USA can be strengthened.
The Osborne Clarke team that advised Redalpine, led by Maximilian Vocke, consisted of Paul Rhode (both Corporate / VC) as well as Hadrien Chef, Violette Keppenne (both Corporate / VC) and Laurens Dauwe (IT/IP) from Osborne Clarke Belgium.
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