1 min read.Updated: 23 Dec 2021, 12:41 PM ISTLivemint
Jupitice will use the funds raised for product development and global marketing
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MUMBAI: Jupitice, the world’s first justice technology (JusTech) company, has raised raised $4 million in a Pre-Series A round led by Almas Capital Limited.
Founded by Raman Aggarwal, Jupitice has designed and developed the next-generation justice technology platform powered by AI/ML & blockchain.
The Chandigarh-based company has raised the fund in just a few months of its launch. The funds raised will be utilised in product development and global marketing. Almas Capital, also known as Almascaps, manages its fund management company--Almas Global Opportunity Fund--in the Cayman Islands.
“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," said Amardeep Sharma, Managing Director, Almas Capital.
Almascaps rasies capital for the companies in the United Arab Emirates. It has clients across industries such as real estate, precious metals, renewable energy, shipping, and manufacturing. The company has a mandate for raising capital in Africa, India, and the Middle East. Almascaps provides funds into many sectors to avail required exposure including Mining and Retail, Entertainment, Banking, and Finance among others.
“It was not easy to develop a workflow, especially for the Justice sector, which is quite dynamic. It does not merely digitize paper-based processes but transforms processes for a digital environment that creates new capabilities, which were earlier, not conceivable in the traditional justice system," said Raman Aggarwal, founder, Jupitce.