Berlin-based legal tech startup Xayn (soon to be Noxtua SE) has successfully closed its Series B funding round, securing approximately €80.7 million. The lead investor is C.H. Beck, Germany's leading legal publisher, with additional participation from notable investors including Northern Data (a high-performance computing specialist), CMS (Germany's largest business law firm), and Dentons (a global law firm). Xayn's existing investors, Global Brain Corporation, KDDI Open Innovation Fund, and Dominik Schiener, also participated in the round.
The substantial investment will fuel the development and expansion of Xayn's flagship product, Noxtua, a privacy-first legal AI platform specifically designed for the European market. Noxtua addresses the stringent data privacy and compliance regulations prevalent in Europe, offering AI-powered tools for legal professionals while adhering to professional secrecy standards. The funding will also support the integration of C.H. Beck's extensive legal database into Noxtua, significantly enhancing its capabilities.
Noxtua's unique approach focuses on data sovereignty, bringing the algorithm to the data rather than vice versa. This contrasts with US-based legal AI tools that often struggle to comply with European regulations. The platform serves law firms and in-house legal departments, providing features such as contract review templates, matrix review, and automated workflows. Xayn plans to leverage this funding to further develop Noxtua's functionality and expand its user base across Europe.
The investment highlights the growing demand for compliant and privacy-focused AI solutions within the European legal sector. Xayn's success underscores the importance of developing AI technologies tailored to specific regional regulations and cultural contexts, particularly in the sensitive field of legal practice.
