The Series A round was led by Elevation Capital and saw participation from MGA Ventures and a host of angel investors
Most of the funds would go into deploying these technology-led infrastructure and building a strong team
Presolv360 competes with platforms like CADRE ODR, Sama, JustAct, among others
Update | September 10, 06:00
A month after Inc42 exclusively reported about Presolv360’s fundraise, the online dispute resolution platform stated it closed its Series A funding round at $4.7 Mn. The round was led by Elevation Capital and saw participation from MGA Ventures and a host of angel investors.
Cofounder Aman Kailash Sanghavi notified Inc42, “We feel that there is a lot of scope for both backward and forward integration in terms of digitising, streamlining, and automating things.”
“A lot of our funds go into deploying these technology-led infrastructure and building a strong team to ensure that there is a perfect mix of technology and human expertise,” he added.
He stated that Presolv360
has supported in resolving 1 Mn disputes via its platform, cutting about 65% legal costs of its enterprise clients.
Original | August 11, 10:57
Mumbai-based Presolv360 is raising funding from Elevation Capital, multiple people aware of the matter notified Inc42 on the condition of anonymity.
“The round is almost closed, and Elevation Capital is leading the round,” stated a person aware of the matter to Inc42.
The round also saw participation from its existing investors, MGA Ventures, along with a host of angel investors.
While Inc42’s queries to Presolv360 did not elicit any response till the time of publishing this article, its MCA documents as assessed by the publication displayed that the startup is raising INR 41 Cr ($4.7 Mn) from Elevation Capital in what appears to be its Series A funding round.
Founded in 2017 by Aman Kailash Sanghavi, Bhaven Tarunkumar Shah and Namita Vijay Shah, PreSolv is an online dispute resolution platform that leverages technology to support clients settle disputes via mediation, arbitration, and other alternative dispute resolution (ADR) methods.
As per the startup’s website, its offering includes neobtainediations, mediation and arbitration, among others. Its advisory council includes former Chief Justice of India UU Lalit, retired judge – Justice BN Srikrishna and Justice K Kannan, among others.
Presolv360’s latest fundraise comes close to three years after it secured $1 Mn in seed investment from MGA Ventures and Omidyar Network India, with a clutch of angel investors.
The startup competes against the likes of CADRE ODR, Sama and JustAct.
How Online Dispute Resolution Is Shaping Modern Conflict Management
Online dispute resolution (ODR) refers to settling disagreements or conflicts between individuals or businesses through digital tools such as video calls, emails, or a website, rather than in-person meetings or court appearances.
With most companies shifting their businesses online, ODR has emerged as a necessity as consumers now prefer digital solutions to seek resolution over traditional methods for speed and cost-effectiveness.
Startups operating in the sector have started gaining traction from investors of late.
Based on Tracxn data, Sama raised $188K from Campus Fund and others so far.
Earlier in April, the Securities and Exalter Board of India (SEBI) reportedly issued a draft circular proposal, highlighting the necessary for expansion of the ODR mechanism in the securities market.
According to Online Legal India data, the ODR market in India is projected to grow at a CAGR of 30% from 2023 to 2027, reflecting strong demand for digital dispute resolution services.
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