SucSEED backed an online alternative dispute resolution (ADR) platform, Webnyay!
India’s leading online dispute resolution and grievance redressal platform,
Webnyay has raised an undisclosed sum in its Seed Round led by Inflection Point Ventures, with participation from SucSEED Indovation Fund. The funds raised will be utilized towards scaling up the products building AI, machine learning and NLP capabilities, strengthening the security of the platform, and enhancing the capability for resolving disputes in open networks like the Account Aggregator, ONDC, and OCEN networks. Additionally, Webnyay will develop a go-to-market strategy.
Webnyay is available on both the web and an Android mobile app in languages like English, Hindi, Tamil, Telugu and Bengali etc. to address a wide range of customers who are in different parts of India and can access the ADR platform seeking grievance redressal for their complaints and disputes. Webnyay supports businesses, Government bodies, courts, lawyers, and consumers to efficiently manage and resolve grievances and disputes on its platforms.
It offers 360-degree solutions for alternative dispute resolution with various features like virtual courts, breakout rooms, screen sharing, calendar
integration and end-to-end deal documents management with record the meeting feature for evidence. It offers the dashboard view to each user to see the cases that it is engaged in. The dashboard has basic details for each dispute, like names of the parties in the dispute, dispute number, date of filing the dispute and present status of the dispute, etc. There is also a separate dashboard for cases that have been disposed of.
Users can use the digital signatures capability to affix their digital
signatures on pleadings, applications, affidavits, orders, judgments or other documents using Webnyay’s integrated functionality. This also reduces carbon footprint and increases speed and efficiency.
It is founded by Vishwam Jindal and Ishita Jindal. Vishwam comes from 9+ years of experience in alternative dispute resolution and grievance redressal across India, UK and UAE. He has previously founded LDP and Think Niti. Ex-Linklaters and DLA Piper. Alumni of NLU Delhi. Ishita comes from 5+ years of experience in UI/UX and product designing and management. Ex- Wildcraft, Believe, Crossroads Digital and WHO. Alumni of NIFT Delhi.
“We are building the justice delivery ecosystem for the internet. We want to help businesses and Government bodies resolve grievances and disputes speedily and cost-effectively. Our mission is to use technology to increase access to justice and enable ease of doing business. We are building AI and machine learning algorithms for faster and automated resolution of grievances and disputes”, said Vishwam Jindal, Co-founder and CEO
He further added, “In India alone, dispute resolution costs result in over $56 billion in yearly losses. The technology provided by Webnyay can help optimize timelines and processes for resolving disputes, which is an untapped challenge. Numerous Indian businesses rely on Webnyay’s technology to resolve grievances and disputes and this has resulted in massive savings of time and costs.”
Speaking on why have they invested in Webnyay, Vikrant Varshney, Co-Founder & Managing Partner of SucSEED Indovation Fund said, “As per the 2021 ODR report by NITI Aayog, dispute resolution cost born by Indian Citizen and Businesses result in an aggregate loss of at least US$ 56 billion to the Indian economy every year. If we can handle & resolve disputes faster, we can hopefully increase the GDP by 1.8%. Webnyay is working to solve this problem by providing Tech and services to businesses so they can resolve their B2B and B2C grievances and disputes efficiently and inexpensively. Webnyay differentiates itself from its competitors by offering 360-degree solutions for Online Dispute Resolution (ODR) and grievance redressal using automation and Artificial Intelligence. We are thrilled to back early them with our support”
Vinay Bansal, Founder & CEO, Inflection Point Ventures, says, “Securing justice quickly and with utmost ease in cost-effective manner has always been a challenge for justice seekers who are most commonly oblivious to the process of jurisdiction. To make the justice delivery ecosystem accessible, Webnyay has designed India’s one-of-its-kind online dispute resolution and grievance redressal platform which serves as a one-stop-shop to register, manage, respond to and resolve grievances and disputes at one’s convenience. This holistic platform promises to be a win-win platform for both justice seekers and givers and this has led IPV to extend their support and help Webnyay scale their platform”
He further added, “Webnyay has developed an easy-to-use technology system for grievance redressal and dispute resolution. Webnyay has proprietary technology, that allows users to draft legal documents for arbitration without an advocate or external legal help. It is available in multiple languages and has been used to resolve grievances and disputes in numerous sectors including media and entertainment, banking and fintech, healthcare and ecommerce. Among other features, Webnyay has developed a document management system tailored for lawyers, automated creation of electronic hearing bundles in document heavy and complex disputes as well as a sophisticated messaging and video conferencing solution that supports online (and hybrid) court and redressal proceedings.”
“Businesses, lawyers, and arbitrators from numerous countries have used the platform for managing disputes and conducting their arbitration and mediation proceedings. Its users include retired Chief Justice of India, former Supreme Court judges, and arbitrators from across the world.”
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with a ₹100 crore corpus and has grown out of SucSEED Angel Network (SAN) and IIITH Tech Ventures, an early-stage tech seed initiative with IIIT Hyderabad Foundation. General Partners of the Indovation Fund have 100+ years of cumulative experience within technology, fund management, and start-up ecosystem and have already invested in 60+ startups. SIF attempts to support Indian Innovation for mass needs in the following Six (6) sectors — EdTech, FinTech, Health-tech, Security & RegTech, Enterprise & MSME SaAS, and Digital Economy & Emerging Tech.