GoKawiilNvidia's venture arm, NVentures, has invested in Swedish AI legal tech Legora at a $5.6 billion valuation, as the chip giant continues to ramp up startup funding across the globe.
Legora on Thursday exclusively told CNBC that Nvidia had backed it as part of a $50 million extension of its Series D, which brought the total amount to $600 million following a first close in March. The extension also saw Atlassian, Adams Street Partners and Insight participate.
Investors have been piling into promising young AI companies as they bet big on the commercial potential of tech to reshape entire industries and bring big efficiency gains.
Nvidia has been ramping up startup investments in recent years, as its looked to deepen its ties to some of the world's most promising companies, offering technical expertise and supply chain assistance, alongside hard cash.
Legora is its first bet in the legal tech sector, according to Dealroom data. The size of its investment was not disclosed.
The AI startup is building AI agents and tools to help lawyers automate and streamline workflows. The company launched an ad campaign this month featuring the actor Jude Law, using the slogan: "Law just got more attractive."
"Enterprise AI is now entering a new phase," Max Junestrand, Legora's CEO and cofounder, said in a statement.
"Foundation models are improving rapidly, but the real breakthrough is in how they're applied, where AI doesn't just assist, but executes autonomously with the right level of human oversight. With the support of our investors and customers, we're building a full agentic operating system for legal work".