Orbital Witness, a London, UK-based company that transforms the legal processes in property transactions through machine learning and AI, raised £7.5M in Series A funding.
The round was led by Parker89 and joined by LocalGlobe, Outward VC, Seedcamp, Portfolio Ventures, and Realty Corporation.
The company intends to use the funds to expand their 40-strong team and build key partnerships across the property market.
Co-founded by Will Pearce, and Ed Boulle in 2018, Orbital Witness leverages machine learning and AI to allow lawyers and property professionals to manage the complex, labour intensive, and heavily regulated ‘diligence’ process. The platform automatically identifies data and documents from public sources including the Land Registry and Local Authorities, then uses the latest generative AI and natural language processing techniques to analyse key documents such as leases and deeds – which can run to hundreds of pages – in seconds, providing users with an instant overview of issues, risks or quirks that might affect a property transaction.
The platform is used in commercial real estate with over 2,000 lawyers and property professionals, from clients including Tesla, Mischon de Reya, Freshfields, Slaughter & May and M&S, using the technology.
FinSMEs
18/05/2023