Jupitice on Thursday said it has raised $4 million (about Rs 30 crore) in pre-Series A funding from Almas Global Opportunity Fund.
The funds raised will be utilised in product development and global marketing, a statement said. Founded by Raman Aggarwal, Chandigarh-based Jupitice has designed and developed a 'justice technology' platform powered by AI/ML and Blockchain.
Almas Global Opportunity Fund (AGOF) is a fund management company based in the Cayman Islands.
“I am grateful to the entire team of Almascaps for showing such confidence, trust, and belief in a project, which is basically a new space in the technology sector (JusTech). The entire team of Jupitice and I would like to appreciate Almascaps for their confidence and decision to invest in our technology,'' said Raman Aggarwal, Founder and CEO of Jupitice.
He noted that it was not easy to develop a workflow, especially for the Justice sector, which is quite dynamic.
''It does not merely digitise paper-based processes but transforms processes for a digital environment that creates new capabilities, which were earlier, not conceivable in the traditional justice system,” he added.
Recently, Jupitice presented its platform to the members of APEC (Asia-Pacific Economic Cooperation), an inter-governmental forum for 21 member economies in the Pacific Rim.
“The way Jupitice is working towards its vision - Justice for all at their doorsteps by harnessing technology - is worth commendable.
“Undoubtedly, it is a brilliant company with extraordinary people behind it. We are very positive about this investment as it is not about a couple of people or team, but the entire machinery,” Amardeep Sharma, Managing Director of Almas Global Opportunity Fund, said.
(With inputs from PTI)
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