Business Wire India Presolv360, an Online Dispute Resolution (ODR) platform that offers technology-driven new-age solutions for resolving disputes, has raised $1.08 Million (INR 8.13 crores) in seed funding from MGA Ventures (Ashra Family Office), Omidyar Network India, and the round also saw participation from family offices like Inspira Enterprises, M Pallonji, Jeena and Co., Fine Fragrances, and other angel investors.
The funds will be deployed towards developing and integrating newer technologies and team expansion across tech, data and business development as Presolv360 focuses on expanding its user base.
Founded by Bhaven Shah, Namita Shah, and Aman Sanghavi with the vision to “pre-solve” every dispute through the interplay between technology and data, Presolv360’s platform allows enterprises to resolve disputes with their stakeholders out-of-court and capitalize on bespoke offerings such as smart case management, workflow automation, data-driven insights, blockchain-based validation, digital tools, etc., resulting in reduced costs, time and efforts by up to 65%. On a macro level, this translates into unburdening of the justice delivery system, greater governance, and ease of doing business. Presolv360 is trusted by 35+ enterprises comprising some of the largest banks, NBFCs, business enterprises, e-commerce players and startups. It has also been incubated by India’s leading law firm Cyril Amarchand Mangaldas.
“ODR not only provides disputing parties a fair chance to resolve their disputes online from anywhere across the world, but it also ensures greater participation resulting in higher settlements, trust-building and satisfaction. Today, far more people have access to technology than access to conventional dispute resolution systems, and Presolv360’s ODR platform creates a level-playing field that catalyzes inclusion and has strategic benefits for all stakeholders that gain from efficient and effective resolutions achieved in record time. ODR is solving for one of the most challenging problems faced by us all, and when such ideas are backed by funds like Omidyar Network India and MGA Ventures, its true impact begins to unravel,” says Bhaven Shah, Co-founder, Presolv360.
“In an age where transactions take place in a few seconds, dispute resolution for these transactions is taking years to get resolved. We should not be spending years to resolve disputes, rather be leveraging technology to assist in getting a resolution in a just and timely manner and not just staying in the system for years. ODR is a game changer on how one perceives and approaches the process of dispute resolution in India as compared to the traditional court process. We believe that Presolv360 is building a comprehensive, scalable, and proprietary technology platform led by data-driven solutions and machine learning for ODR in India. Presolv360 is designing the future of dispute resolution and Legal Tech in India,” says Gautam Ashra, Partner, MGA Ventures.
“We are inspired by Presolv360’s mission to become the most trusted platform for dispute resolution services. We believe their digital platform will empower businesses and citizens to resolve their disputes at-ease and in an affordable manner. The founding team’s deep customer focus and passion to enable access to dispute resolution for the Next Half Billion (NHB) makes this an exciting investment for us,” says Shilpa Kumar, Partner, Omidyar Network India.
ODR has become an exciting category in the LegalTech ecosystem and has gained wide recognition in India from the judiciary, the government and business enterprises.
Sarvaank Associates advised and assisted Presolv360 on the transaction.
© Digital Conqueror 2023