Well, legal services and fintech platform RuleZero has also raised Rs. 10 crores in seed by funding round which is led by the Rainmatter Capital. However, the round will also saw participation from the Infosys co-founder Kris Gopalakrishnan, law firm IndusLaw and Reddy Future LLP amongst others.
Rainmatter Capital is a well-known incubator backed by the stock trading platform Zerodha. The startup, established in 2019 by Satish Mugulavalli and Srinivas Katta, is incubated at IndusLaw.
The startup accomplishes ownership data of a company, automates share issuance processes, and delivers tools to keep track of cap tables and accomplishing transactions. RuleZero is also a marketplace, which fixes other legal or fintech products and service providers.
Katta exclaimed in a press statement that “manual processes, a limited number of skilled professionals, and the absence of a single source of truth has resulted in private companies suffering from compliance issues, limited liquidity, high financing costs, and delays.” He even assumed that RuleZero in resolving this dispute.
Mugulavalli has been well-known as an entrepreneur with many startups in Silicon Valley and India and was currently a partner at YourNest Venture Capital which is an investment firm. Katta, a corporate lawyer, is one of the establishing partners of IndusLaw.
Nithin Kamath, founder and chief executive of Zerodha mentioned that Rainmatter Capital is “constantly looking out for innovative tech companies that are working on enabling and encouraging financial transactions.”
Last year in the month of September, Rainmatter Capital has also made an investment in the online learning platform called the Qshala