Estonian legal tech innovator, Avokaado, secures €1.2 million in funding led by Tera Ventures. Avokaado is set to transform contract management with its upcoming AI-ready upgrade, designed to convert formatted text into dynamic, self-executing datasets. With a user base of over 20,000, including major industry leaders, the company's expansion into new markets and verticals is fueled by this investment.
Avokaado's latest advancement, a document format known as aDoc, seamlessly integrates clauses, metadata, workflows, and lifecycle management into a unified structure. Contracts become intelligent entities capable of automation, change tracking, and adaptable responses to diverse scenarios.
Founded by Mariana Hagström, a former attorney-at-law and Jean Mauris, a serial entrepreneur known for exceptional SaaS products, Avokaado is poised to lead in digital transformation. Hagström earned recognition at the European Women of Legal Tech awards in 2020.
"In an era of rapid technological progress, where AI and automation set the pace, we are ideally positioned to embrace this transformative wave," said Mariana Hagström, the founder and CEO of Avokaado. The company's ethos emphasizes legal operations as integral components of broader business processes, with data and business process automation as foundational principles.
Pixis, a codeless AI infrastructure company, secures $85 million in its Series C1 funding round, led by Touring Capital. With a total capital raise of $209 million, Pixis aims to enhance AI capabilities, expand globally, invest in R&D for a generative AI-powered creative studio, and establish crucial product and business partnerships. Distinguished investors, including Grupo Carso, General Atlantic, Celesta Capital, and Chiratae Ventures.