Destek Infosolutions receives $2 Million funding for LegalNextt
Pune based IT Company Destek Infosolutions Pvt Ltd has raised an amount of $2 Million in seed funding round for one of its platforms, LegalNextt – An Extensive Communication, Collaboration and Practice Management platform for lawyers and law firms. The round was led by Mr. Gurmeet Singh, Mr. Kapil Jhaveri and Mr. Chandrakant Bhojepatil – Angel investors from Mumbai.
The raised funds would be used in product development, strengthening the team, marketing and collaborations and conducting events and conferences across India.
Destek Infosolutions Pvt Ltd is founded by Mandar Lande (Graduate (BE Computers) from MIT College Pune in 2007 and Post Graduate (EPGBM) from IIM Calcutta in 2012) and Anirudha Kotgire (Graduate (BE Computers) from MIT College Pune in 2007 and Post Graduate (MBA) from IMT Nagpur in 2011). Initially started as a Digital Transformation Agency, Destek now has over 100+ clients across India.
The Destek founding team came up with an innovative innovative idea of LegalNextt, one of its kind platform, which will transform the legal domain and drive the lawyers and law firms to communicate and collaborate over a single platform. The platform will comprise of city wise and state wise forums of lawyers and law firms across the country enabling the entire law community to come forth and collaborate on their ideas, problems, opportunities, legal expertise, global know-how, etc. The platform also offers a tech platform for lawyers and law firms to help them digitize their current office work and ensure smooth running of their daily chores. “LegalNextt platform will create an immense value for the estimated
25 lakh lawyers in India and with 3.73 lakh lawyers adding to the count every year. We do not have a direct competition as such as this is a white space with the offerings that we are planning with LegalNextt. We have planned to capture 10% of the market share which is 250,000 lawyers at the end of 1st year.” says Destek Co-Founder, CEO Mandar Lande.
On the seed investment, Mandar Lande further added “To have received the backing of these notable investors is a real validation of LegalNextt platform and the service that we plan to offer to our customers, as well as the huge market opportunity we see. We feel privileged to have their support and expertise as we expand our team, service and customer base, and feel confident that we are well positioned to meet our goals over the coming 18 months.”
Destek Co-Founder and MD Anirudha Kotgire commented “We have done extensive research in the legal domain before we started with the mission of LegalNextt. We have interviewed more than 100 lawyers and pitched our idea and got an overwhelming response from each one of them. That gave us the confidence of pitching the idea with the angel investors and VC’s. Finally, we tasted success in our second pitch to the investors. We are really happy and excited to be associated with our Angel Investors who have shown immense faith in the concept of LegalNextt and us as the founding team.”
Mr. Gurmeet Singh, an Angel Investor from Mumbai said, “We have been really impressed with the Destek Team for their innovative idea of LegalNextt as the platform for lawyers and law firms and are delighted to announce Seed Investment in Destek. We see a real demand in the market for their platform and product as evidenced by their thorough research to date across a number of Lawyers and law firms. We are excited to see the team take the business forward and are confident in their ability to execute on their vision.”
Mr. Kapil Jhaveri, another notable Angel Investor from Mumbai commented, “We are delighted to be supporting Destek Team as they move forward into the next phase of their growth. We believe in the team’s strong strategic vision and are excited for the opportunities ahead. As our first major investment, Destek Team’s LegalNextt platform is a key moment in our journey. They are a standout example for us, as we look to invest into the most promising start-ups driving game changing ideas, identifying and fostering new digital business models with the potential to revolutionize traditional professions and industries.”
Mr. Chandrakant Bhojepatil also said “We are glad to backup Destek Team for the revolutionary platform LegalNextt which will be the next big thing in the legal space. We believe in the founding team, Mandar and Anirudha for their vision and strategy to make LegalNextt successful in terms of value for the legal fraternity.”
For more information on LegalNextt go to: www.legalnextt.com
Mandar Lande, CEO @ Destek, Spokesperson for LegalNextt.