Zerodha-backed Rainmatter Capital, Kris Gopalakrishnan and others invest in legal startup RuleZero

• The startup, founded in 2019 by Satish Mugulavalli and Srinivas Katta, is incubated at IndusLaw.
• RuleZero is also a marketplace, which connects with other legal or fintech product and service providers.
• The round also saw participation from law firm IndusLaw and Reddy Futures LLP amongst others.

Legal services and fintech platform RuleZero has raised ₹10 crore in a seed funding round led by Rainmatter Capital. The round also saw participation from Infosys co-founder Kris Gopalakrishnan, law firm IndusLaw and Reddy Futures LLP amongst others.

Rainmatter Capital is an incubator backed by stock trading platform Zerodha. The startup, founded in 2019 by Satish Mugulavalli and Srinivas Katta, is incubated at IndusLaw.

The startup manages ownership data of a company, automates share issuance processes and provides tools to track cap tables and manage transactions. RuleZero is also a marketplace, which connects with other legal or fintech product and service providers.

Katta said in a press statement that “manual processes, limited number of skilled professionals and the absence of a single source of truth has resulted in private companies suffering from compliance issues, limited liquidity, high financing costs and delays.” He claims that RuleZero is solving this issue.

Mugulavalli has been an entrepreneur with many startups in Silicon Valley and India and was most recently a partner at YourNest Venture Capital, an investment firm. Katta, a corporate lawyer, is one of the founding partners of IndusLaw.

Nithin Kamath, founder and chief executive of Zerodha said that Rainmatter Capital is “constantly looking out for innovative tech companies that are working on enabling and encouraging financial transactions.”

In September last year, Rainmatter Capital had invested in online learning platform Qshala.


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