Legal-tech startup MyAdvo raises funding from LetsVenture
MyAdvo, a platform that helps clients connect with lawyers for legal help, has raised an undisclosed amount of angel funding led by Pradyumna Dalmia, co-founder of Calcutta Angels Network, and a few other investors through LetsVenture, a funding platform.
"Technology is yet to enter the legal services in India and MyAdvo was founded with an aim to do just that. Their marketplace approach to provide efficient, reliable legal services at predetermined prices will be very helpful," said Dalmia, in a statement on Friday.
MyAdvo, run by MyAdvo Techserve Pvt. Ltd, was started last year and the startup claims that over the last nine months, it has received more than 22,500 legal queries, and has expanded its lawyer network to more than 2,500 lawyers spread across 115 cities, with expertise in over 75 domains. It has tied up with corporates such as Karbonn, Panasonic, IFB and Hindware, among others, for handling their over 1,000 consumer litigation cases.
MyAdvo has also tied up with several educational institutions including IITs for their accelerations, incubation centres, IP facilitations, among others, the company said in the statement. It assists the startups incubating in these institutions with their legal structuring and in ensuring that all compliances and regulations are taken care of.
"We had our idea validated in the very first month of our launch, and then worked hard to make it operationally profitable before pitching to investors. We will be using the funds to setup a stronger technology and operational backbone. We have been able to build an operationally profitable model in Delhi and will be soon expanding to eight more cities," said Kushal Bhagat, founder and chief executive, MyAdvo.
Several startups in the legal space have been funded over the last few months. Last month, LawRato.com, a Delhi-based legal tech startup, raised an undisclosed amount in its pre-Series A round of funding from Indian Angel Network (IAN).
On-demand legal services provider HiGrit Services Pvt. Ltd raised an undisclosed amount in seed funding from Ashish Mahajan and Sarvesh Sharma, co-owners of web design company Osvin Web Solutions Pvt. Ltd, in July.
Prior to that, Legal Raasta Technologies Pvt Ltd, which provides legal services to entrepreneurs, small and medium-sized enterprises and professionals over its online platform legalraasta.com, raised $1 million (around Rs 6.7 crore) in angel funding from two high net-worth individuals, Pravin Khandelwal and Yatin Kumar Jain.