Vakilsearch Raises $10 Million to Accelerate Artificial Intelligence and Machine Learning Initiatives

Incorp India invested $10 million in legitimate startup Vakilsearch. Founded in 2014, Vakilsearch provides legal, tax, and legal services to small businesses and individuals. The platform has served more than 80,000 small businesses and other customers, including 30,000 businesses since the pandemic...

Manjiri Pathak Manjiri Pathak
Nov 15, 2021 - 22:00 Updated: Dec 6, 2021 - 17:18
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Vakilsearch Raises $10 Million to Accelerate Artificial Intelligence and Machine Learning Initiatives

Incorp India invested $10 million in legitimate startup Vakilsearch. Founded in 2014, Vakilsearch provides legal, tax, and legal services to small businesses and individuals.

The platform has served more than 80,000 small businesses and other customers, including 30,000 businesses since the pandemic, and created more than 10,000 new businesses and 8,000 trademark registrations. InCorp India is the Indian subsidiary of  InCorp Global, headquartered in Singapore.

The company specializes in providing registration, corporate secretarial, compliance, accounting, tax, FEMA, and investment banking services to businesses. Vakilsearch will move from transaction services to a client consulting platform that provides AI-based compliance solutions and guidance with plans to launch an updated technology platform in December of this year.

“This investment will enable us to leverage the strengths of Vakilsearch and accelerate our artificial intelligence (AI) and machine learning (ML) initiatives. Vakilsearch will expand its service offerings by extending InCorp India’s technological capabilities and global best practices. Manish Modi, CEO of InCorp India said, “InCorp India will increase speed and efficiency to technically serve customers in various geographies.

The startup raised $2 million from joint-stock company Kalaari Capital in 2015 and an undisclosed amount from Udaan co-founder Sujit Kumar in 2020. In this round, Kalaari Capital completes the investment.

The global legal services market was valued at USD 713 billion in 2020 and is expected to grow to USD 908 billion by 2025 at a CAGR of 4.9%, and is expected to continue to grow to USD 1.1 trillion in the industry by 2030.

The Asia Pacific market is expected to grow at a CAGR of 7.2% over the same period. Complicity, founded by Gurugrambased, recently received $750,000 in Pre-Series A funding. We provide a software compliance platform that covers more than 2,000 laws and 20,000 regulations in more than 50 industries.