Bengaluru-based legal tech AI startup Lucio has secured $5 Mn in its seed round led by DeVC, with participation from Lucky Investment Managers' cofounder Ashish Kacholia and Alchemy Capital Management's cofounder Lashit Sanghvi.
The startup plans to use the fresh funds to expand its product lineup, deepen AI-powered personalisation for legal workflows, and accelerate its global adoption.
Founded by lawyers Vasu Aggarwal and Darsan Guruvayurappan in 2022, Lucio offers an AI-native workspace tailored for the legal sector. The platform claims to support more than 200 organisations and over 3,000 lawyers across nine jurisdictions.
It helps lawyers with document review, drafting, due diligence, legal research, and translation, and claims to help save an average of 30 hours per lawyer every month.
The funding comes at a time when AI adoption is rising rapidly across sectors. As a result, a number of legal tech startups have also emerged which are helping automate processes like contract drafting, legal briefs, opinions and filings. These legal tech startups are also attracting strong investor interest.
For instance, SpotDraft raised $54 Mn from Temasek subsidiary Vertex Growth and Trident Partners in February. In 2024, Info Edge announced plans to invest INR 4 Cr in its portfolio company LegitQuest, while AI-powered startup Jhana.ai secured $1.6 Mn in its maiden round led by Together Fund.
At the heart of this trend lies India's rapidly expanding GenAI ecosystem, projected to become a $17 Bn opportunity by 2030. Moreover, investor confidence in the sector is evident from the over $1.6 Bn raised by AI-native startups between 2022 and Q3 2025.
In a recent survey conducted by Inc42, 41% of investors said they have allocated up to 40% of their portfolio to AI-focussed companies. However, only 7% consider AI a core investment focus.