Aug 13, 2021

13 Aug '21 The Pulsar Venture Capital venture fund has invested in the Russian legal-tech startup UR-LI, a resident of the Skolkovo fund's IT cluster. UR-LI has developed an intelligent legal AI system that allows businesses to audit tax reports and analyze risks. The total amount of investments attracted by the startup is currently 8.73 million rubles, including tranches from Pulsar VC and two private investors. It should be noted that the Pulsar Venture Capital fund and accelerator is focused on projects with international development potential. “We will definitely focus on scaling the business internationally. The nearest plans include raising 280 thousand dollars to create MVP and CustDev outside of Russia. We see potential markets for us in the USA and CIS countries,” comments Valery Mayushkin, founder of the UR-LI AI system. In addition to active expansion abroad, UR-LI will continue to develop in Russia, providing medium and large businesses with tools for effective management of accounts receivable: “UR-LI differs from other legal-tech projects in that we managed to get into a market, the size of which in Russia is comparable to the market in the USA. Moreover, it is four times larger than the EU market. Legal AI services are in demand among Russian business, so now we are at the stage of choosing a strategic partner in the person of a large corporation or bank that can support UR-LI scaling in the Russian Federation.” In the Russian legal-tech market, UR-LI became the first company that creates ecosystems for the management and collection of accounts receivable in the medium and large business sector: “We have a vision to create a complete ecosystem for large companies. For example, UR-LI can become an effective instrument for collecting troubled receivables in favor of the bank. In addition, financial institutions will be able to provide access to UR-LI to their corporate clients,” Valery Mayushkin emphasized. COMMENT ON THIS STORY