A legaltech startup called RTIwala, based in Seoni Malwa, has raised Rs 25 lakh from PontaqVC. NGIS-STPI, Bhopal, facilitated the transaction.
According to a statement from the business, RTIwala will use the money for team growth and product improvement.
RTIwala was established by Sumeet and Kritika Mahendra, a husband-and-wife team, to assist people and organizations in obtaining important data and documents from governments in an easy, quick, and economical way.
The last fiscal year, according to RTIwala, saw a threefold increase in revenue. It has previously benefited from grants from BITS Pilani’s PIEDS and Padup Ventures.
In the UK, India, the USA, and Canada, Pontaq VC makes investments in technology startups. By means of the investment, Pontaq will assist RTIwala in augmenting its offerings and broadening its scope, thereby rendering the acquisition of government data easier, quicker, and more reasonably priced for individuals and institutions.
A number of legaltech businesses were successful in raising capital in 2022. Inflection Point Ventures (IPV) led a pre-seed round of funding raised by Amikus AI in December. The pre-Series A funding round led by Mumbai Angels in January of last year saw the Gurugram-based LegalKart raise additional funds. In order to invest in up-and-coming legaltech companies pursuing financial inclusion, LegalPay, a legal and insolvency financier, established the nation’s first equity fund, the Justice and Inclusion (JAI) Fund, last year.
