Singapore state investment company Temasek Holdings led a US$26 million funding round in UK legal technology company Robin AI.
Three venture capital firms – Quantum Light Management from the UK, Plural VC from the US and AFG Partners from Hong Kong – were among the investors, Robin AI says in a statement on January 3.
Established in 2019, Robin AI leverages artificial intelligence technology to automate and speed up the process of drafting and negotiating contracts in the legal sector.
“The funding will allow Robin AI to capitalise on the strong momentum it is seeing in a very fast moving market,” the company says. It plans to use the money to expand its team in the US, move into Asia by opening an office in Singapore, and hire more AI and machine learning experts.
According to Chief Executive Officer Richard Robinson, the firm has seen “incredible customer traction with what we believe is the smartest AI contract solution on the market”.
He says the firm is building an AI platform that will “help people tackle every legal task”, from drafting contracts, to researching case law to explaining legal concepts.
“This will help level the playing field between big and small law firms and help more people access legal services. This investment will help us to realise this vision,” he says.
