TechBookyBusiness
No Result
View All Result
Wednesday, July 6, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Funding

London-based, Nigerian Led Definely Raises £2.2m Seed Fund In A Microsoft-led Round

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
September 13, 2021
in Funding, Startup
Share on FacebookShare on Twitter

When applied, technology makes life easier, tough operations are carried out more effectively and in a shorter time, and more accurately. We’ve seen technology being used in innovative ways across various sectors and industries from finance, medicine, art, and basically all spheres of life.

Definely, a Nigerian-led startup is changing the legal world with its technology startup. Based in London, United Kingdom, Definely was founded in 2017 by Nnamdi Emelifeonwu and Feargus Macdaeid. Led by Nigerian-born Nnamdi Emelifeonwu, Definely is a legal-tech startup that applies Artificial Intelligence (AI) to make legal operations such as simplifying drafts, reading, and understanding of contracts, easy. Definely works by using Artificial Intelligence to go through all the documents (both hard and soft copies) that lawyers need to go through to lay hold of crucial information that they’ll need, thereby taking away the stress from lawyers and reducing their workload.

Definely has announced that it raised £2.2 million in a seed funding round, bringing the total funds that the startup has raised to £3.4 million. The funding round was led by tech giant Microsoft’s Venture Fund and supported by CRE Venture Capital.

It might be quite surprising to some to hear of a legal-tech startup, but as earlier implied technology can be adopted in any field or sphere of life. Research and studies have shown that law firms that have fully adopted technology in all their operations have more productivity and profitability when juxtaposed with their counterparts who have either not adopted technology or have not fully implemented it in their operations. What Definely does, simply, is that it provides law firms the avenue to increase their productivity and profitability by leveraging on technology. The startup’s software employs Artificial Intelligence which makes some crucial legal operations be carried out faster, more efficiently and accurately, and in real-time.

Since its inception in 2017, the startup has done impressively well. It boasts of a 500 percent YoY rate of growth in the number of people and law firms using its platform. The startup also boasts of some of the world’s legal bigwigs using its platform. Some of these big law firms and multinational corporations using its platform include Dentons, Allen and Overy, and Deloitte.

Speaking about the term “legal-tech”, Definely’s Nigerian-born Co-founder and CEO said that “Legal technology is stepping out of nascency and becoming embedded in how the modern-day lawyer works. Definely not only speeds up the review and drafting process but importantly it allows a lawyer to be more accurate with their output because they never have to leave where they are and lose context when working on a document”.

The startup says that it expects exponential growth in both the demand and adoption of its products across the globe and predicts that legal-tech would, in the future, be a requirement for companies looking to employ the services of a law firm. The world is changing, and technology is bringing about new changes across different spheres of life and the legal world should not be left out, the startup’s CEO believes.

The startup says that the newly acquired fund will be used to “accelerate its product development, expand its world-class team, and drive further expansion into markets beyond the UK”. The startup has big goals in mind.

The startup has had some impressive achievements and some of it include being recognized as one of the 10 most exciting early stage scaleups in the UK during the 2021 Tech Nation Rising Stars competition and being one of the few startups that was selected to be a part of the Google for Startups £2 million fund. The startup also recently won the title of the ‘Most Promising Mature Business’ during KPMG’s Black Entrepreneurs’ Awards.

Definely has a long list of potentials and promises to do well as the sector it is hovering is one of the unexplored.

Total
1
Shares
Share 1
Tweet 0
Pin it 0
Share 0

Related Posts:

  • DrugStoc, A Nigerian Health-tech Startup Raises $4.4 Million In Its Series A Round
    DrugStoc, A Nigerian Health-tech Startup Raises $4.4 Million…
  • Nigerian Fintech Company, Lidya Raises $8.3m In Funding A Year After Its Europe Expansion
    Nigerian Fintech Company, Lidya Raises $8.3m In Funding A…
  • Calm Fund Leads Nigeria's HumanSquad Undisclosed Pre-seed Funding Round
    Calm Fund Leads Nigeria's HumanSquad Undisclosed Pre-seed…
  • Tunisian AI Startup InstaDeep Raises $100 Million In Series B Round
    Tunisian AI Startup InstaDeep Raises $100 Million In Series…
  • Eden Life Secures $1.4 Million Seed Funding To Scale Its Home Concierge Services For Busy Africans
    Eden Life Secures $1.4 Million Seed Funding To Scale Its…
  • Digital Economy: The Nigerian Government Partners With Microsoft
    Digital Economy: The Nigerian Government Partners With…
  • Europe’s POS Provider SumUp Acquires Customer Loyalty Startup Fivestars for $317 Million
    Europe’s POS Provider SumUp Acquires Customer Loyalty…
  • Microsoft Buys Nuance Communications For About $16 billion
    Microsoft Buys Nuance Communications For About $16 billion
Tags: DefinelyFundinglawyerslegal techStartuptech
Previous Post

China Plans To Break Up Ant Group’s Alipay Into Separate Businesses, Financial Times Reports

Next Post

Egyptian Startup Capiter Secures $33M To Expand B2B eCommerce Platform Across MENA

Next Post
Egyptian Startup Capiter Secures $33M To Expand B2B eCommerce Platform Across MENA

Egyptian Startup Capiter Secures $33M To Expand B2B eCommerce Platform Across MENA

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce earnings earnings season elon musk facebook fintech Funding gadget google government india internet Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin
  • Popular Bitcoin Family Reveals They’ve Had Bitcoin Losses Of Up To $1 Million This Year

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$20,203.003.90%
  • ethereumEthereum(ETH)$1,139.023.78%
  • tetherTether(USDT)$1.00-0.13%
  • usd-coinUSD Coin(USDC)$1.00-0.04%
  • binancecoinBNB(BNB)$237.625.95%
  • Binance USDBinance USD(BUSD)$1.000.13%
  • rippleXRP(XRP)$0.3231672.15%
  • cardanoCardano(ADA)$0.4577352.17%
  • SolanaSolana(SOL)$36.117.75%
  • dogecoinDogecoin(DOGE)$0.0674932.08%
  • polkadotPolkadot(DOT)$6.923.41%
  • Shiba InuShiba Inu(SHIB)$0.0000102.67%
  • AvalancheAvalanche(AVAX)$18.328.51%
  • matic-networkPolygon(MATIC)$0.525.27%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....