MDR LAB firm Orbital Witness has acquired £1.2m in funding in a seed investment round, bringing together innovation investors such as JLL Spark and LiFE Ventures to drive its next phase of growth, as reported in Artificial Lawyer:
The round also includes grant funding for research and product development through the Government-backed Innovate UK’s Industrial Strategy Challenge Fund aimed at transforming legal services.
All in all a big step forward for the company that has the aim of using satellite imagery and other data to help with ‘automating legal risk profiling in real estate … achieved through an intelligent analysis of property and legal data, with an analytics engine trained to spot key legal issues’.
Orbital Witness (OW) was also one of the first members of MDR LAB incubator and maintains a working relationship with Mishcon de Reya.
Nick Kirby, Managing Associate in Mishcon de Reya’s Real Estate team, said: "A key part of our technology strategy is to use cutting edge tools to deliver client services faster, better and more efficiently. Orbital Witness does exactly that – it allows us to provide meaningful insights to our clients in an instant. It enables us to add significant value by being more informed about a property and potential problems right at the start of each new project and to do that in an engaging, visual format. Once our lawyers had experienced the difference using Orbital Witness makes, rolling it out across our real estate team was a no-brainer."
Read the full article in Artificial Lawyer here.