Definely a London-based legaltech operating in Nigeria has raised $3 million in pre-seed funding. The start-up employs Artificial Intelligence (AI) to simplify drafting, reading, and understanding contracts. The round was jointly led by Microsoft’s venture fund, M12, and CRE Venture Capital. This investment round will go into speeding product development, expanding world-class teams, and drive further expansion into markets beyond the United Kingdom. Definely has garnered traction over the years, earning recognition as one of the most exciting early stage scaleups across the UK in the 2021 Tech Nation Rising Stars competition. Definely was one of the six Nigerian-led start-ups picked at the inaugural batch of the Google for Start-ups fund targeting Europe’s black founders.
Legaltech is no longer a fledgling sector and is quickly becoming an integral part of how today’s legal practitioner’s work. Definely has gained a lot of traction along the way. During the 2021 Tech Nation Rising Stars competition, the start-up was named one of the ten most exciting early stage scaleups in the UK. In addition, the start-up was one of six Nigerian-led start-ups chosen for the inaugural Google for Start-ups £2 million fund for Black Founders in Europe. And, most recently, the startup was named the ‘Most Promising Mature Business’ at KPMG’s Black Entrepreneurs’ Awards.