KonProz, a pioneering generative artificial intelligence (GenAI) startup, has raised $700,000 in its latest funding round. Dr. Ruchi Parekh, RDB Group, and several angel investors led the investment. This new influx of capital is set to propel KonProz’s ambitious plans to expand its GenAI intellectual property, which is tailored explicitly for the legal domain.
The funds will be allocated towards enhancing the company’s GenAI capabilities, expanding its team, and scaling operations to widen the functionality and reach of KonProz’s platform. By leveraging GenAI, KonProz aims to transform the landscape of legal, tax, and regulatory services with innovative SaaS solutions.
Founded by industry experts Piyush Chopra and Shiladitya Dash, KonProz has quickly made a name since its inception. The startup’s flagship product, KonProz GPT, is a groundbreaking GenAI tool meticulously trained on India’s comprehensive tax, legal, and regulatory frameworks. This specialized focus has garnered significant interest and adoption, with over 2,000 active users. These users include senior professionals from leading firms such as the Big Four and Tier 1 law firms.
The initial phase of KonProz GPT, launched in November 2023, has been met with widespread acclaim. The company is now poised to develop a comprehensive suite of products to further enhance its offerings. This move is expected to solidify KonProz’s position as a leader in the GenAI-powered legal tech space.
The funding landscape for generative AI platforms has been vibrant over the past six months, with numerous startups securing substantial investments. In December 2023, Sarvam AI raised $41 million in a Series A round led by Lightspeed. Similarly, Ema secured $25 million, marking the second-largest funding round in this sector. Other notable investments include Neysa’s $20 million Series A and Vodex’s $2 million seed round.
As KonProz continues to innovate and expand, the recent funding round marks a significant milestone in its journey to revolutionize legal tech with cutting-edge generative AI solutions.
