Get All Access for $5/mo

Webnyay Raises Undisclosed Amount In Seed Funding The fund raised will be utilized for scaling up the products, building AI, machine learning and NLP capabilities, strengthening the security of the platform, and enhancing the capability of resolving disputes in open networks

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Webnyay, an online dispute resolution and grievance redressal platform, has raised an undisclosed amount in a Seed funding round led by Inflection Point Ventures, along with SucSEED Indovation Fund. The fund raised will be utilized for scaling up the products, building AI, machine learning ad NLP capabilities, strengthening the security of the platform, and enhancing the capability of resolving disputes in open networks like the Account Aggregator, ONDC and OCEN networks. The platform also plans to develop a go-to-market strategy.

"We are building the justice delivery ecosystem for the internet. We want to help businesses and government bodies resolve grievances and disputes in a speedy and cost-effective manner. Our mission is to use technology to increase access to justice and enable ease of doing business. We are building AI and machine learning algorithms for faster and automated resolution of grievances and disputes," said Vishwam Jindal, co-founder and CEO, Webnyay.

Webnyay has also developed a document management system tailored for lawyers. Businesses, lawyers and arbitrators from numerous countries have used the platform for managing disputes and conducting their arbitration and mediation proceedings. The platform has proprietary technology that allows users to draft legal documents without any external help. It is available in multiple languages and has been used in numerous sectors including media and entertainment, banking and fintech, health care and e-commerce, claimed by the company in a statement.

"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. 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 deliver on this parameter for IPV," said Vinay Bansal, founder and CEO, Inflection Point Ventures.

Founded in 2020 by Vishwam Jindal and Ishita Jindal, Webnyay's technology help to optimize timelines and processes for resolving disputes. As per reports, in India alone, dispute resolution costs result in losses over $56 billion every year.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Entrepreneurs

Academic Excellence Is Not Necessary for Success in Life: Hear from the Founder of this Exciting New Digital Education Platform.

Many educational platforms are emerging these days to help people qualify for various types of entrance examinations. But what about the students who don't want to take the traditional path, the ones who don't rank among the top 10 in the classroom yet still aim high in life?

Growing a Business

3 Branding Strategies That Will Make Any Brand Stand Out

Here's how to differentiate your brand in three essential steps — understanding your unique selling proposition, leveraging storytelling, and valuing feedback.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Science & Technology

No More ChatGPT? Here's Why Small Language Models Are Stealing the AI Spotlight

Entrepreneurs can leverage this growing tech to create innovative, efficient and targeted AI solutions.

Marketing

10 Effective Growth Marketing Hacks and Strategies for Your Startup

Working at a startup can feel like building a plane while you're trying to take off. Use these ten marketing tips to effectively grow and sustain your startup.

Franchise

Four Takeaways for the Franchise Industry From My Time at the Republican National Convention

Matt Haller, President and CEO of the IFA, says the stakes are high for franchisors and franchisees in the upcoming presidential election.