AddVenture and Target Global Fintech Opportunities have injected 60 million rubles (roughly $1 million) to support Pravoved.ru, a legal consulting platform, the Russian media reported last week.
The Pravoved legal consultants serve 7 million users per month — a record in Russia and even Europe, claims the company. The data accumulated over the years by this remote legal consultation service is now being used by a robot-lawyer powered by machine learning and artificial intelligence.
Launched very recently, the robot-lawyer answered more than 1,700 questions in the first month of its work — the equivalent of about 600 hours of a human lawyer’s time, according to the Skolkovo Foundation. Pravoved’s founders believe that, in five years, the robot will be able to answer more than 70% of users’ questions in a variety of fields.
One of the first American robot lawyers, ‘DoNotPay,’ received much hype last year – but also sparked controversy. Thus, Californian writer and lawyer Ephrat Livni called to “object claims that a simplistic bot can do the complex job of a human who specializes in language and is trained in the art of argument.”
AddVenture is a major Russian venture capital firm, which launched its first fund in 2008. It already invested $1 million in Pravoved in August last year. Target Global Fintech Opportunities was created last year to invest in marketplaces, mobility, insurtech, regtech and fintech, essentially in Europe and Israel.
