A authorized know-how start-up which was feted as one of many trade’s most promising gamers after elevating tens of tens of millions of kilos from blue-chip traders is getting ready to promoting the majority of its operations to a rival.
Sources mentioned the deal, which was mentioned to have been struck at a knockdown worth, was more likely to be introduced publicly on Wednesday.
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In 2023, Robin AI was hailed by Rishi Sunak, the then prime minister, for “revolutionising the legal profession, writing contracts in minutes, saving businesses and customers time and money”.
The firm was backed by traders together with the Japanese big SoftBank and Episode1, a distinguished London-based enterprise capital agency.
Its mixture with Scissero will take the latter’s consumer base to greater than 100 corporations and allow it to compete extra immediately with authorized AI corporations resembling US-based Harvey and Sweden’s Legora.
Robin AI’s buyer base consists of giant asset managers, funding banks and the likes of Pfizer, PepsiCo and Basic Electrical.
The enlarged firm could have a workforce of roughly 150 folks, though Scissero is just not buying Robin AI’s know-how platform.
“We are proud to be taking an early, proactive role in shaping this evolution, bringing together best-in-class talent, advanced technology and scalable delivery.”
Richard Robinson, Robin AI chief govt, mentioned: “Becoming part of Scissero marks an exciting new chapter for our managed services team and our clients.
“Scissero’s international capabilities, regulated authorized companies providing, and market-leading know-how platform imply our purchasers will now profit from a broader set of options whereas persevering with to obtain the high-quality service and quick turnaround occasions they depend on.”
