London-headquartered legal technology startup Robin AI is reportedly cutting jobs after not securing a planned £37.5 million funding round. The company has already made redundancies in New York and is in consultation over further cuts in London, with around 50 roles expected to be affected in total.
Robin AI offers an artificial intelligence (AI) driven contract review and negotiation platform aimed at in-house teams. Established in 2019 by former Clifford Chance disputes solicitor Richard Robinson and machine learning scientist James Clough, Robin AI had reportedly been seeking at least £37.5 million in new funding.
The company has raised approximately £51.759 million to date, most recently announcing a £18.75 million Series B funding round last November.
Robin AI has expanded internationally over the last two years, opening offices in New York and Singapore, the home of investment firm and backer Temasek, and increasing its number of staff to more than 200 employees as of March this year, according to publicly available information. Clough left the company at the end of last year, while Robinson remains the Chief Executive Officer.
Robin AI’s reported reduction in staff contrasts with the general momentum in European legal technology. Startups including Definely and Wordsmith have announced major funding rounds this year, while Milan-based Lexroom recently raised £14.25 million, and AI firm Legora is said to be seeking more than £75 million at a £1.25 billion valuation.
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