Nvidia's NVentures Invests in Legal AI Startup Legora

Nvidia has expanded its artificial intelligence portfolio with an investment in Legora through its corporate venture capital arm, NVentures. According to ChainCatcher, this marks Nvidia's first foray into the legal AI sector. Legora, a legal tech startup originating from Sweden, utilizes AI to enhance lawyers' efficiency and competes with U.S. company Harvey. NVentures joined Legora's shareholder structure in a $50 million Series D extension round, which included participation from Atlassian and other new investors. This round follows a $550 million Series D funding completed just a month prior. During this period, Legora, a Y Combinator alum, achieved an annual recurring revenue (ARR) milestone of $100 million, boosting its post-funding valuation to $5.6 billion. This valuation brings Legora closer to Harvey, which was valued at $11 billion last month. Other participants in the funding round included Andreessen Horowitz, Coatue Management, Conviction Partners, Elad Gil, Matt Miller's Evantic, and Kleiner Perkins.