Ukrainian legal tech startup Lawyerd! valued at $3M joins TechStars
Lawyerd!, a Ukrainian startup that develops an automated copyright protection online platform, has been selected to the program of the famous TechStars accelerator. The team got a $120,000 investment at a $3 million valuation.
Lawyerd! is a solution to react to online copyright violations. The product allows to automate complaining about violations and, as a result, accelerate and simplify blocking illegal web resources. According to the team experts, this automation of Lawyerd! makes it 28 times cheaper and ten times faster than all existing competitors.
The Lawyerd! system searches keywords and automatically generates a claim if it finds any violation. Then, it contacts an authorized agent, creates the documents confirming the infringement, and sends them to the authorized entities with proper jurisdiction.
The startup was founded by Igor Makushinsky and Igor Hludov from Kharkiv, Ukraine. In February 2021, the product was recognized as the best legal innovation at the prestigious global competition Innovating Justice Awards 2020.
About acceleration at TechStars
Currently, the startup is on the Polish equity-free program Concordia design supported by Shape VC, after which it can receive a 65,000 EUR grant. The TechStars accelerator program will help Lawyerd! expand in the European market and attract new funding sources during a new seed round, said Igor Makushinsky, CEO at Lawyerd!, to AIN.UA.
“Protection of copyrights becomes a trend during the transition to Web 3.0. So, the team plans to create an opportunity for any Internet user to protect their copyrights simply, quickly, and cheaply,” he added.