Home Insight Funding Alert Webnyay raises funding led by Inflection Point Ventures

[Funding alert] Webnyay raises funding led by Inflection Point Ventures

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[Funding alert] Webnyay raises funding led by Inflection Point Ventures
Webnyay, an online dispute resolution and grievance redressal platform has raised an undisclosed amount in its seed funding round from Inflection Point Ventures, with participation from SucSEED Indovation Fund.

Webnyay, an online dispute resolution and grievance redressal platform has raised an undisclosed amount in its seed funding round from Inflection Point Ventures, with participation from SucSEED Indovation Fund.

The startup plans to use the funds to enhance the products, build AI, machine learning and NLP capabilities, and strengthen the platform’s security. It also uses new capital to increase its ability to resolve disputes in the open network and develop strategies for going to market.

The New Delhi-based Webnyay was founded in 2020 by Vishwam Jindal and Ishita Jindal, It has developed an easy-to-use technology system for grievance redressal and dispute resolution.

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The platform has proprietary technology that allows users to draft legal documents for arbitration without any lawyer or outside legal help.

“Tech startups in the last decade have demonstrated how technology can be used to solve real problems from cab-hailing to grocery delivery within minutes. Judiciary in India too leveraged tech from the start of the pandemic to deliver justice. The comfort and trust to use tech-enabled platforms for Dispute Resolution remain an untapped market largely because of obvious challenges. Webnyay is making a bold move in this segment as a pioneering legal tech platform built in India that has global relevance in Grievance Redressal and Dispute Resolution. As a believer in backing great companies with great founders, Webnyay delivers on this parameter for IPV”, said, Vinay Bansal, Founder, and CEO, of Inflection Point Ventures.

The platform is available in multiple languages ​​and has been used to resolve complaints and disputes across a range of sectors including media and entertainment, banking and fintech, healthcare and eCommerce.

About Webnyay

Grievance redressal and dispute resolution for the 21st century.

They provide grievance redressal and online dispute resolution platforms. They use AI/ML and NLP to generate legal documents and enable faster resolution of disputes.

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They are sector agnostic, they assist companies with dispute prevention by providing an open line of communication (that allows early settlements).

Their platforms are available on the web and available in English, Hindi, Tamil, Telugu and Bengali.

They offer the following services:

1. Commercial Disputes Resolution: an end-to-end platform for resolving commercial disputes and grievances. They use AI/ML, NLP as well as document automation technology to generate formal complaints and pleadings.

2. Resolve Virtually: a virtual hearing platform for courts, mediations and arbitrations. Some of their features include virtual hearing rooms and breakout rooms with video conferencing software (built in-house for data security), messaging platform (as a substitute to emails) with document exchange capability, cloud storage space to store pleadings, evidence and other documents, calendar, digital signatures, transcription, etc.

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