14/09/2023 - VALÈNCIA (VP). Substrate AI, an artificial intelligence firm listed on BME Growth, has entered the legaltech business with Cremades y Calvo Sotelo, one of the most prestigious law firms in Spain.. The legaltech aims to apply new technologies, especially artificial intelligence and blockchain, to the world of law helping lawyers, judges, notaries, social graduates or end users to perform their tasks more efficiently and quickly saving costs and problems in their business solutions.
This is one of the trends in which venture capital funds and even private equity funds have been fixed in recent years and thus, since 2018, more than one billion dollars a year have been invested in the world in this area with the United Kingdom at the head leading the creation of startups in this sector. In Spain alone in 2021, large private equity funds carried out operations for more than 300 million euros with the purchases of Logalty or Legálitas by MCH and Portobello, to give just one example.
"With the entry of Substrate AI in this project we add the development capacity of this leading company in the world of artificial intelligence to promote Zicero, a project that was incubated in our law firm and that we hope can help hundreds of people to obtain a better legal defense of their interests at an affordable price, thus democratizing access to a quality legal defense," he says. José F. Estévez, head of Zícero and vice-president of Cremades y Calvo Sotelo..
New, more sustainable economy
"Cremades y Calvo Sotelo is the best possible partner to enter the legaltech sector, thus fulfilling Substrate AI's goal, namely to apply artificial intelligence where this technology can help us to drive a new economy that is more sustainable, efficient, respectful and people-centered. We believe that AI can bring great things to the world of law and we are very happy to be able to do so hand in hand with a team that has had great success in this field," says José Iván García CEO of Substrate AI.
Cremades y Calvo Sotelo is one of the most recognized and prestigious law firms in the Spanish and Latin American market. Created at the end of the 90's under the values of inclusion, innovation and entrepreneurship, it has physical offices in the main Spanish cities and in 8 Latin American countries and gathers among its professionals lawyers of recognized prestige and solid international projection.
Substrate AI is the first Artificial Intelligence company listed in Spain and operates as a holding of companies that sell, apply and develop artificial intelligence in their sectors, with a focus on creating efficiencies that drive the economy on its path towards sustainability and emission neutrality. The companies that make up the Substrate AI portfolio develop and sell artificial intelligence solutions in sectors such as healthcare, agritech, fintech, human resources, energy and now legaltech. In addition, the company offers consulting services for other companies wishing to implement AI solutions in their day-to-day business.
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