Info Edge to Invest INR 4 Cr in Legal Tech Startup LegitQuest

Info Edge, through its subsidiary Startup Investments (Holdings) Ltd., plans to invest INR 4 Crores ($474K) in the legal tech company LegitQuest via convertible notes in two phases.

The initial investment of INR 2 Crores will be made within 30 days, with the remaining amount to follow within a year, subject to specific conditions. After the investment, Info Edge’s ownership stake in LegitQuest could rise to 27.98%, based on upcoming funding rounds.

LegitQuest was established in 2017 by Karan Kalia, Rohit Shukla, and Himanshu Puri, offering a generative AI legal assistant for legal professionals, with a user base of 300,000 and over 1,000 B2B clients.

The company's revenue for FY24 skyrocketed by 163% to INR 5.85 Crores, resulting in a profit of INR 38 lakhs. Through this investment, Info Edge aims to enhance its portfolio of GenAI investments.