Source: Inc42
Mumbai, India – Presolv360, a legal-tech startup, plans to raise ₹41 crore (around $4.7 million) in a new funding round. According to the filings by the company with the Ministry of Corporate Affairs (MCA) and sources, the funding round is nearing completion and is led by Elevation Capital. “The round is almost closed, and Elevation Capital is leading the round,” said a person aware of the matter to Inc42. Existing investor MGA Ventures and a few angel investors are also participating in the round.
Aman Kailash Sanghavi, Bhaven Tarunkumar Shah, and Namita Vijay Shah founded Presolv360. Presolv360 is an ODR (Online Dispute Resolution) platform that helps individuals and businesses resolve disputes without going to court. The platform utilizes methods of negotiation, mediation, and arbitration to resolve disputes quickly and efficiently.
The company’s goal is to minimize the time, cost, and effort required to resolve legal disputes. Presolv360 aims to make justice faster and accessible by providing digital case management, workflow automation, and other technology-oriented solutions. This is especially significant in India, where millions of cases are still pending in the court, often taking years to be decided.
Presolv360’s advisory council includes some of the most reputed names in the Indian legal fraternity, including Justice U.U. Lalit, the former Chief Justice of India, Justice B.N. Srikrishna (Retd.), and Justice K. Kannan (Retd.). Their credibility continues to enhance Presolv360’s ability to provide fair and transparent dispute resolution services.
This new funding takes place nearly three years after Presolv360 raised $1 million from MGA Ventures, Omidyar Network India, and other angel investors. Since then, the company has worked on the platform, improved the technology, and served multiple clients.
Although Presolv360 did not respond to the questionnaire at the time of publishing, its MCA filings reveal that the startup is raising INR 41 crore ($4.7 million) in what appears to be a Series A round from Elevation Capital.
Presolv360 has competitors in the ODR space, including CADRE ODR, Sama, and JustAct. However, with the backing of Elevation Capital, as well as a team of lawyers who have been paired with experienced legal advisers, the startup is hoping to leverage a growing legal-tech space.
The funding underscores the growing interest in technology-assisted dispute resolution in India. As firms and individuals seek much faster methods to resolve disputes, ODR platforms, such as Presolv360, are likely to co-exist within India’s legal landscape.
