20th May 2024 – KonProz, a startup specializing in generative artificial intelligence (GenAI), has announced a successful funding round of $700k led by Dr. Ruchi Parekh, RDB Group, and angel investors. The raised capital will fuel KonProz’s efforts in developing intellectual property focused on Generative AI for the legal domain, expanding its team, and scaling operations to enhance platform capabilities.
Founded by Piyush Chopra and Shiladitya Dash, KonProz utilizes cutting-edge technologies like GenAI to create Software as a Service (SaaS) solutions tailored for the legal, tax, and regulatory sectors.
KonProz gained notable attention for its flagship product, KonProz GPT, which stands as the first GenAI tool specifically trained on India’s tax, legal, and regulatory laws. With over 2,000 active users, including senior professionals from prominent firms like the Big4s and Tier 1 law firms, KonProz aims to further expand its product suite.
The funding received by KonProz reflects the growing interest and investment in generative AI platforms, as evidenced by recent funding rounds for companies like Sarvam AI, Ema, Neysa, and Vodex.
KonProz’s successful fundraising underscores its potential to revolutionize the legal and regulatory space with innovative AI-driven solutions. As the company continues to develop and expand its offerings, it is poised to make significant strides in reshaping how legal professionals access and utilize information in India.
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