Generative artificial intelligence (GenAI) startup KonProz has raised $700,000 in a new funding round led by Dr. Ruchi Parekh, RDB Group and Angel Investors. too supported with the infusion of fresh capital. KonProz is said to be advancing its innovative AI technology tailored for the legal domain with the funds and expanding its team. It is also learned to be scaling operations to enhance the capabilities of the platform.
KonProz was founded by Piyush Chopra and Shiladitya Dash. The platform uses latest technologies and advanced technologies to develop Software as a Service (SaaS) solutions. It is particularly designed for the legal, tax and regulatory sectors. KonProz GPT is its flagship platform and has grabbed significant attention. It is said to be the first GenAI tool that is trained specifically on the tax, legal and regulatory laws of India. It was first released in November 2023 and since then has attracted more than 2,000 active users such as senior professionals from top-tier law firms and accounting firms.
The fresh capital is learned to be helping the startup in developing a comprehensive range of products to further strengthen its position in the sector. It also aims to hire more expertise to drive innovation in the team and improve product offerings. Apart from all these, it wants to ensure the platform can handle increased demand and offer enhanced features to users.
KonProz is not the only GenAI platform to have secured funding in recent months. Sarvam AI raised $41 million in a Series A round led by Lightspeed in December 2023. Ema secured $25 million and Neysa followed with $20 million in Series A funding. Vodex too lately successfully secured $2 million in its seed round.
