SucSEED welcomes a LegalTech space startup, The Legal Capsule to its family!!
The Legal Capsule is an AI powered Contract Lifecycle Management (CLM) platform that makes it easier for the enterprises to create, collaborate, negotiate, stamp, e-sign, store and manage legal contracts on one single platform. has raised Funds from Hyderabad based SucSEED Indovation
Fund and many known Angel Investors including S Ramadorai (Former CEO of TCS), Kiran Deshpande (Former CEO of Tech Mahindra), Ravi Nigam (Founder and Former MD of Tasty Bite), Shashank Deshpande (Managing Partner at Pentathlon Ventures) , Vineet Patni (Managing Partner at
Wepartner Consult), Shantanu Deshpande (Founder of Bombay Shaving Company) and few others.
With the seed round, The Legal Capsule strengthen their efforts on client acquisition, accelerating team hiring's and global expansion strategy. Most importantly they are delighted to have got access to a set of well known mentors in Industry, who have invested in our company.
The Legal Capsule helps the enterprises to manage their legal contracts, compliances, renewals and tasks, thereby mitigating contractual risks of an enterprise. It allows right from drafting the contracts in MS word within the application, seeking internal approvals, negotiating clauses with counterparties, e-signing using legally binding signatures, e-stamping modules for States across India and storing all contracts in one single repository.
It uses AI & ML to analyze the reported findings and offer blockchain-powered authenticated signature solutions that not only captures signatures, but live photographs of the signer, GPS details, IP address and date & time of signing contract. With meaningful and actionable insights through dashboard integration, it gives clear insights and analysis for the actual business risk that is imposed by the different clauses in the contracts and regulatory compliances.
The Legal Capsule has successfully achieved its product market fit stage by serving 250+ users, including big corporations like Bridgestone, Morris Garages (MG), HDFC Ergo, Bajaj Finserv, T-Hub, etc. It is also a winner of Microsoft Emerge X programme and selected for Google Launchpad programme.
It is founded by Gautami Raiker and Shravan Hegde. Gautami comes with 7+ years of experience as a lawyer. She has founded startup LawMate.in that won international recognition in the legal tech segment and advised over 1000+ enterprises. Accredited Mediator at IIAM. Steering Committee Member of Asia Pacific Legal Innovation and Technology Association. Shravan comes with 5+years of experience in AI, ML and IOT technology. He has an expertise in developing AI, Deep Learning and developing Machine Learning models. He has founded Earnestek- trained 5000+ engineering students. He was the youngest speaker at the world IoT summit held in Bengaluru in 2018.
Gautami Raiker, Co- Founder and CEO of The Legal Capsule said, “We believe effective Contract Management is a must for every Enterprise to fully secure their interests and we endeavor to help them in the digital transformation of this very important space TLC has been helping mid and large sector enterprises to manage and automate contracts right from drafting to execution and renewals.”
Speaking on investing in The Legal Capsule, VVSN Raju Co-Founder & Partner at SucSEED Indovation Fund, said, “Increasing demand for agile contract management software and changing regulatory compliances with rising complexity due to diversity in sales and licensing models, a sector that will grow exponentially over the next few years. Legal Capsule has grown their revenue by 4x over the past one year. It has a massive and expanding TAM equal to $25Bn which includes an E-signature market of $20Bn and Contract Lifecycle Market of $5Bn.”
About SucSEED Indovation Fund — SucSEED Indovation Fund (SIF) is an AIF Cat-1 Venture Capital Angel Fund with ₹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.