Ashish Kacholia of Lucky Investment Managers and Lashit Sanghvi of Alchemy Capital Management participated in the $5 million seed round led by DeVC for the Bengaluru-based legal tech AI startup Lucio.

With the additional funding, the startup intends to broaden its range of products, enhance AI-powered personalization for legal workflows, and hasten its global adoption.

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Lucio is an AI-native workplace designed specifically for the legal industry. It was founded in 2022 by attorneys Vasu Aggarwal and Darsan Guruvayurappan.  According to the website, it serves over 3,000 attorneys in nine jurisdictions and more than 200 organizations.

It saves an average of 30 hours per lawyer each month by assisting with document review, drafting, due diligence, legal research, and translation.

The financing coincides with a sharp increase in the use of AI across industries.  This has led to the emergence of several legal tech startups that are assisting in the automation of procedures such as the writing of contracts, legal briefs, opinions, and filings.  Strong investor interest is also being shown in these legal IT startups.

For example, in February, SpotDraft secured $54 million from Trident Partners and Vertex Growth, a Temasek affiliate.  While AI-powered firm Jhana.ai raised $1.6 million in its first round, funded by Together Fund, Info Edge revealed plans to invest INR 4 crore in LegitQuest, one of its portfolio companies, in 2024.

India’s quickly growing GenAI ecosystem, which is expected to generate $17 billion in revenue by 2030, is at the center of this movement.  Furthermore, the more than $1.6 billion raised by AI-native firms between 2022 and Q3 2025 shows that investors have faith in the industry.

According to a recent Inc42 survey, 41% of investors stated that they have up to 40% of their portfolio invested in AI-focused businesses.  Only 7%, though, think AI should be a primary area of investment.