[Funding alert] Legal practice management app Legalkart raises Rs 3.5 Cr in seed round
Gurugram-based legal tech startup Legalkart has raised a seed funding of around Rs 3.5 crore from a group of angel investors belonging to the technology, retail, entertainment, logistics, and financial services community within eight months of starting its operations.
The angels who have invested in their personal capacity include Pranay Jivrajaka (CEO, FoodPanda), Mitesh Shah (CFO, BookMyShow), Sundeep Sahni (CCO, Rocket Internet), Pallav Singh (ex-COO, OlaCabs), Sudarshan Gangrade (CEO, Lo! Foods), and other individual HNIs from Microsoft, Cognizant, Tata Motors, METRO Cash & Carry India, and Oracle, who are based in the USA, the UK, Japan, and the UAE.
Mitesh Shah, CFO, BookMyShow, said,
“Legalkart technology is democratising the legal help and improvises the legal service experience for both legal professionals and those seeking legal support. This investment will accelerate Legalkart’s ability to make legal services accessible while also ensuring lawyers and legal professionals grow in the process.”
Founded in 2018 by Arvind Singhatiya (Founder and CEO), Partha Sen (CTO), and Deepak Prajapati (Strategy Advisor), Legalkart is aimed at making legal practice more systematic, enabling on-the-go information and increasing efficiency for legal professionals.
The company has already on-boarded 2,500 lawyers in eight months. The startup said it will touch $450,000 in revenue this year and is witnessing a 20 percent growth rate on a MoM basis.
Also, the company aims to expand its presence across 1,000 cities with 25,000 lawyers by the end of 2020 from the current 100 cities and 2,500 lawyers.
Arvind Singhatiya, Founder and CEO, Legalkart said,
“In the next five years, we intend to completely redefine the way legal services are delivered in India by creating the first practice management system designed for the legal profession - keeping their clients in mind.”
The Legalkart app is developed in Hindi and English, and it can be downloaded on both Android and iOS mobile platforms. It aims to help lawyers in assigning tasks, synchronising calendars and also providing advanced features like financial management, client management, document, and team management. Legalkart also facilitates collaboration with other legal professionals at the same time.
According to the startup, the organised legal service delivery market is only two percent of the total market which is in the range of $1.5 billion in India, and out of 15 lakh registered legal professionals less than three percent are using any kind of technology to manage their legal practice.
(Edited by Evelyn Ratnakumar)