Gen AI startup KonProz raises $700K

KonProz, a generative artificial intelligence (GenAI) startup, has raised $700,000 in a new round  led by Dr. Ruchi Parekh, RDB Group and angel investors.

The proceeds will be used for building a Generative AI intellectual property for the legal domain, team expansion and scaling operations to broaden KonProz's platform capabilities. 

Founded by Piyush Chopra and Shiladitya Dash, KonProz leverages emerging technologies such as GenAI to build SaaS solutions for the legal, tax and regulatory space.

Since its inception, KonProz claims to have received significant attention for its flagship product, KonProz GPT, the first GenAI tool trained specifically on India's tax, legal and regulatory laws. 

Since the release of its phase 1 product in November 2023, KonProz has over 2,000 active users including senior professionals from the Big4s and Tier 1 law firms, and aims to now build a comprehensive suite of products.

In the past six months, generative AI platforms have managed to score decent funding in their early stages.

In December 2023, Sarvam AI raised $41 million in a Series A round led by Lightspeed while Ema scooped up $25 million which is the second largest funding in this space. Neysa bagged $20 million in Series A while Vodex raised $2 million in its seed round.