Copenhagen LegalTech startup Pandektes has secured a €2.9 million Seed funding to additional develop AI answer to assist authorized professionals navigate laws, discover new case legislation, immediate authorized queries, and construct knowledge-bases.
The funding spherical included participation from Danish enterprise capital agency Individuals Ventures, German fund Interface Capital, and a bunch of distinguished Nordic enterprise angels. Pandektes purpose is to dismantle jurisdictional boundaries in Europe and construct a authorized database with thousands and thousands of authorized sources from throughout the EU.
“Authorized professionals at present have entry to solely a small fraction of the authorized assets they want. In Denmark, for instance, attorneys can entry lower than half a % of all courtroom rulings every year. Our AI instrument modifications that by making extra of those rulings obtainable, searchable, and straightforward to seek out. This may improve the rule of legislation, promote higher transparency in authorized follow, and considerably enhance effectivity within the business. What used to take days of authorized analysis, we are able to now accomplish in seconds. That’s a real revolution,” says Casper Laursen, CEO of Pandektes.
Pandektes was based in 2023 by Casper Laursen and Søren Brokær. With the most recent growth in massive language fashions and synthetic intelligence, the 2 entrepreneurs lastly noticed a possibility to problem the market. They’ve developed an AI-tool that permits authorized professionals to seek out and navigate in rulings, legislations and different authorized sources.
In two years, the startup has gained over 100 clients in Europe – amongst them authorized councils, public establishments and legislation companies in Germany and Denmark. With the brand new funding, their imaginative and prescient is to construct a platform that covers the complete EU, which can reportedly make Pandektes the primary to construct a database of rulings throughout all EU jurisdictions.
“Our aggressive benefit is that we are able to cowl a world market which implies that a French or a German ruling can be utilized as a supply in a Polish courtroom case. With out Pandektes that will be not possible as a result of you would need to search in overseas databases in languages that you simply wouldn’t perceive. We’re going to construct the biggest authorized database in Europe,” Laursen elaborates.
Pandektes has raised round €3.9 million from distinguished buyers akin to Individuals Ventures, Interface Capital and a bunch of distinguished European enterprise angels.
“This can be a excellent instance of how synthetic intelligence goes to strengthen the authorized business,” says principal and CFO in Individuals Ventures, Magnus Sagsted. “Pandektes has had a formidable development price, they’ve constructed a complete product in a really quick time and they’re engaged on a market with little competitors that screams for innovation. Most necessary of all, they’ve constructed a product that they’re clients are completely happy about in a market that has been monopoly-driven for years.”
