The Mohali-based startup firm, Lawin1 Legal Process Solutions has been acquired by Karvin Management Consultants Private Limited, a New-Delhi based business advisory firm. The deal was closed earlier on Monday with Kapil Dudeja, director, Karvin Management. The deal is a cash and stock transaction with total value of $5,84,000.
Lawin1 was launched in September 2014 as an online platform for delivery of Legal service across the country by two college students- Manik Gupta and Pradeep Kumar from Army Institute of Law, Mohali. Over the past 20 months, the startup accumulated more than 600 clients from across the country ranging from traditional manufacturing houses to well funded VC ventures and the chief execuitive of a global top 3 tech company. Wit thicket size ranging from 2,500 to 30,000 depending on the work to be done.
The company registered 20 per cent annual growth.
Lawin1 had initially launched with 30 services under 4 categories- Business Registration, Tax Filings, Documentation and Legal Advice. "Realising the demands of the market we changed our model to focus on our Business Registration and Documentation departments and dropped the other two categories. We added Company Compliance in 2015 to grow our bouquet of services for young companies. We had also developed a lot of educational content which was unpublished would now be used by Karvin", said Manik Gupta, co-founder of Lawin1. Lawin1 developed extensive online and offline capabilities to enable the provision of Legal Services like document drafting, business incorporation and compliance online. Later they expanded our services to deal advisory and contract negotiation for strategic partnerships. The founders are Manik Gupta (22) and Pradeep Kumar (22), who are the 4th year students of Army Institute of Law, Mohali, set up the company at the start of their 3rd year. Karvin Management Consultants Pvt Ltd, which is a Delhi-based firm of Management Consultants, plans to enhance its offerings in the B2C space by making use of online platform and offline capabilities (Logistics, Partners, Affiliate Network, Associate Consultants) for Mohali-based startup.