Startup
Posted: 1 month ago

Ivi Legal Attracts ₾30,000 Investment from UG Fund Simplifying Legal Procedures

Georgian startup iVi Legal attracted an investment of 30,000 GEL. The University of Georgia Foundation has invested in a startup within the seventh acceleration program of UG Startup Factory.

iVi Legal is a startup that aims to simplify various procedure issues with the help of artificial intelligence.

Lana Philishvili, a representative for iVi Legal, said working for the startup was a long-standing desire of the team.

"In the field of logistics, we saw a lot of problems caused by untimely legal responses, language barriers, because companies only had lawyers in the country where they were registered. We realized that this was also a problem and started thinking about how we could simplify the legal process with the help of artificial intelligence.

Seeing the problem pushed us to start working on the project and so ivi Legal was created, which brings together lawyers in a specific field in one system and offers companies full legal protection. Digitization helps us communicate, respond quickly, have no language barrier, and analyze potential risks. At an early stage, it is important to understand how valuable your idea is and how realistic its implementation is, for that you need an acceleration program, "- explains Lana Philishvili.

Ug startup factory helped the team refine the idea and create the product. iVi Legal says that Ug also got the necessary contacts, workspace from the startup factory, listened to the experience of other startups, also gained experience in managing communication with investors properly, helped them get others interested in the startup and attracted the first investment.