Big Idea:

Robin AI, a London-based AI-powered legal platform, has secured €24 million in Series B funding. Temasek, a global investment company based in Singapore, led the funding, with participation from QuantumLight, Plural, and AFG Partners.

Why It Matters:

The funding will enable Robin AI to capitalize on the demand for generative AI in the legal sector. The firm aims to democratize legal services, making them accessible to smaller firms and individuals. By automating the drafting and negotiation of contracts, legal teams can focus on more strategic tasks and increase the industry's efficiency standards.

Key Details:

• Robin AI has demonstrated a 5x YOY revenue growth, signaling market acceptance and effectiveness of its AI solutions.
• Robin AI integrates with Microsoft Word using Claude 2.1 and reduces contract review time by 85%.
• Clients include PepsiCo, PwC, Yum! Brands, AlbaCore Capital Group, and BlueEarth Capital. 

"We are building the AI platform for the legal sector - a service that deeply understands every aspect of the legal function, from drafting contracts, researching case law to explaining legal concepts - our AI will help people tackle every legal task," said Richard Robinson, CEO of Robin AI.

What's Next:

Robin AI’s plans include expanding its team in the U.S., where the majority of its revenue is generated, and establishing an office in Singapore to extend its presence in Asia Pacific. They will continue to develop their AI platform and address various legal tasks as well as bridge the gap between large and small law firms.