Can AI make the case for dwindling legal tech funding?

​​ Plus, $1B to invest in earliest-stage startups October 4, 2023 Hi, {NAME}. An AI may soon be clocking those billable hours at your law firm. [Crunchbase data shows]( that while overall funding to legal tech startups — which are hamstrung by ABA rules — is down significantly, [startups that bring artificial intelligence into the legal sphere have seen some big deals](. ⚖️ [Can AI make the case for dwindling legal tech funding?]( The scales are not tipping in legal tech’s favor. Venture funding to legal tech startups is down significantly this year — [even more so than the overall VC decline]( — [Crunchbase data shows]( but there is one bright spot: A number of startups that bring AI to bear in the legal world have received significant funding deals. They include one that hunts for potential class-action cases, and another that employs generative AI to find regulatory insights. Related Crunchbase Pro list: [Legal Tech Funding]( 💸 [Greylock locks up another $1B to invest in earliest-stage founders]( There’s a lot less money available for startup founders than there was just two years ago, but [Greylock]( is ready to write checks from its new billion-dollar fund. The firm — famous for investing in [Airbnb]( [Coinbase]( and [Facebook]( when it was still called that — said it will back pre-seed, seed and Series A companies from the new fund. 💰 [A secondary investor’s take on the current downturn]( [Industry Ventures]( is busier than ever, recently [closing on]( a record $1.7 billion-plus across two new funds as it looks to buy up stakes of startups at discount prices. And these days, the cast of industry players looking to offload their stakes is quite wide — ranging from ​​corporate investors to pension funds. See also: [The Crunchbase Unicorn Board]( 💡 [When is a startup not a startup anymore?]( What do we mean when we call a company a startup? AI-focused investor [Mikhail Taver]( of [Taver Capital]( poses that question as he ponders [whether a venture-backed company that’s established enough to buy other VC-backed companies is really a startup anymore]( and why those words matter anyway. Recent Investments [Reliance Jio]( [166B INR]( / [Debt Financing]( Reliance Jio is a telecommunications company that offers mobile internet access to customers and businesses. Categories: Apps • Consumer Electronics • Electronics • Information Services • Information Technology • Internet • Telecommunications Founders: [Mukesh Ambani]( Investors: [HSBC]( (Lead) [Kimco Realty]( [$500M]( / [Post-IPO Debt]( Kimco Realty is a real estate investment trust that focuses on open-air, grocery-anchored shopping centers, including mixed-use assets. Categories: Communities • Real Estate • Real Estate Investment • Shopping Mall Founders: [Martin Kimmel]( [Milton Cooper]( [Momentus]( [$4.0M]( / [Post-IPO Equity]( Momentus is a commercial space company providing satellite buses, in-space transportation, hosted payloads, and in-orbit services. Categories: Aerospace • Space Travel • Transportation Founders: [Mikhail Kokorich]( More Fundings Company Amount / Round Lead Investor [GoTo Group]( $125M / [Debt Financing]( [International Finance Corporation]( [Stampli]( $61M / [Series D]( [Blackstone Group]( [Loop]( $35M / [Series B]( [Index Ventures]( [GoTo Group]( $25M / [Private Equity Round]( [Franke and co.]( [Owner]( Unknown / [Series A]( - [All Recent Funding Activity]( Recent Acquisitions [3D at Depth]( Pending acquisition by [Nauticus Robotics]( for $34M More Acquisitions Company Acquired By Amount [Idiom Limited]( [Heywood Pension Technologies]( Unknown [All Recent Acquisition Activity]( Upcoming Tech Events [Texus Venture Crawl]( October 6 - 6, 2023 The Texas Venture Crawl is an initiative by the Texas Venture Alliance that showcases the venture ecosystem of startup support in Texas. Accelerator Deadlines Date Accelerator Location Oct 13, 2023 [Alchemist Accelerator]( San Francisco Oct 15, 2023 [Moderne Ventures]( Chicago [More Upcoming Deadlines]( Don’t see your event? Reach out to us at events@crunchbase.com. #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.