Noxtua, which calls itself Europe’s first ‘sovereign legal AI’, has raised €80.7m with CMS – which has backed the venture from the start – and Dentons both investing, along with legal publisher C.H.Beck and tech company Northern Data.
This Series B financing round will support ‘expansion into additional markets, brings together comprehensive AI, legal, and computing expertise, [and] solidifies Noxtua’s position as Europe’s leading sovereign Legal AI’, they said.
The deal therefore brings together the legal data of C.H.Beck, with AI capabilities, and legal experts. (And Noxtua was previously branded as Xayn.) As to the legal AI tasks they offer, they are not going into too much detail yet, but one would assume they cover the usual genAI related skills of legal research, review and drafting.
They added that the Germany-based project ‘adheres to the high professional, criminal, and data protection law requirements for attorneys (e.g. Section 203 of the German Criminal Code (StGB), Section 43e of the German Federal Code for Lawyers (BRAO)), enabling its use by professionals bound by confidentiality without requiring anonymization’.
And this bit is a big deal, because Germany has very strict data rules and that has acted as a barrier in the past to legal AI tools making progress here. So, this may be the one that manages to take off.
Plus, naturally, investment from two major law firms is a huge move too. Also, connecting with the legal data of Beck is a smart move – given how essential data is.
Beck has the largest legal database in the German-speaking world, with beck-online having over 55 million documents covering all relevant areas of law.
Dr Leif-Nissen Lundbæk, CEO & Co-Founder Noxtua said: ‘We are delighted about the successfully completed financing round and the new strong partners by our side – especially now, when Europe’s digital sovereignty is more crucial than ever. European digital sovereignty is not merely a political question, but one that must also be addressed with hard technical facts – which is why the successful Series B round is of high strategic relevance to us.
‘With C.H.Beck, Northern Data, CMS, and Dentons as our new investors, we are bringing together a unique combination of AI, legal, and computing expertise. This enables us to expand our position as the leading sovereign Legal AI in Europe. In doing so, we are also continuing the journey we began in 2017: building powerful AI based on European values.’
Dr Markus Kaulartz, lawyer and partner for Artificial Intelligence at CMS, added: ‘I am delighted that our vision of a European Legal AI has become a reality. With C.H.Beck as a partner, we are creating the basis for a new standard tool that can bring about lasting change to lawyers’ day-to-day work.’
And Wendela Raas, CEO of Dentons Europe, concluded: ‘Dentons has always been driven by the vision of being the law firm of the future, so innovation is in our DNA. As part of our wider strategy to embrace the power of artificial intelligence to transform our industry, we are excited by the opportunity for Dentons Europe to contribute our legal and innovation expertise to the development of Noxtua to address the specific needs of the European market.’
You can find more about Noxtua here.