Legaltech startup Vakilsearch raises $10 million in a new round led by InCorp India. Through this transaction, Kalaari Capital is also exiting its investment.
Earlier in 2015, private equity firm Kalaari Capital had invested $2 million in Vakilsearch. It had also raised an undisclosed sum from Udaan co-founder Sujeet Kumar in 2020.
According to the Chennai-based startup, the funds will be used to ramp up tech and product development and marketing, sales, and talent acquisition.
Founded by Hrishikesh Datar, Vakilsearch offers several need-based services such as tax filings, property agreements, and consumer rights protection.
The company is now pivoting from a transaction-based service provider to a client-based advisory platform and will launch its new tech platform by December 2021.
It will offer multiple compliances and advisory solutions to its clients using AI, improving efficiency in operations and enhancing customer experience.
Vakilsearch directly competes with players such as NovoJuris and Legal Raasta for many of its services.