Legaltech startup FIGHTRIGHT Technologies has launched a Rs 100 crore fund, allowing investors to fund commercial litigations using AI and ML-backed analytics. The fund, which is a special purpose vehicle, will invest in 15-20 commercial cases with an average ticket size of Rs 5-7 crore for a tenure of two to three years.
The startup’s proprietary AI and ML technology provides comprehensive litigation analytics, which enables the company to evaluate litigation risks and opportunities with accuracy. By leveraging this technology, the company can make informed decisions about which commercial claims to fund, maximising the chances of success for the company and its clients.
“We have seen a significant increase in demand for litigation funding, and our proprietary AI and ML-backed technology gives us a definitive edge in this space,” said Nitin Jain, Founder and CEO, FIGHTRIGHT. “We are confident that our unique approach will provide our clients with the resources they need to pursue and win their claims successfully,” he added.
The fund will allow investors, particularly high net worth individuals (HNIs), to invest in these litigation cases where the annualised return on investment (RoI) is expected to be upwards of 30%. FIGHTRIGHT targets mid-market companies, including MSMEs (micro, small, and medium enterprises), and individuals having commercial disputes and requiring funding for litigation up to Rs 1 crore. The company has already funded claims worth Rs 250 crore in the current fiscal.
FIGHTRIGHT to expand physical touch points for its clientele
Apart from Kolkata, the company has already established its Bengaluru office and is now expanding its physical touchpoints to Delhi-NCR and Mumbai in the next few months. Vishal Mangal, Co-founder and COO, FIGHTRIGHT said, “Our mission is to provide access to justice and level the playing field for clients who may not have the financial resources to pursue their claims. We remain committed to providing more claimants with the resources they need to succeed.”
With the success of its latest fund, FIGHTRIGHT aims to continue offering its unique approach in providing litigation funding. “Our goal is to make litigation funding easily accessible to every person and business owner in India, irrespective of their location, and ensure that they get the funding they require to fight and win their cases,” said Nitin Jain.
The legaltech startup’s innovative approach to litigation funding has been recognised by industry experts, with Forbes India recently featuring FIGHTRIGHT on its list of promising startups to watch out for in 2022. FIGHTRIGHT’s goal of providing access to justice and levelling the playing field for clients will continue to be at the forefront of its mission.