China's Fazhidao raises nearly $30M Series B for AI legal platform
What's the deal? Zhejiang Fazhidao Information Technology, operator of AI legal-tech platform Fabao, has raised nearly 200 million CNY (about $30 million) across its Series A++ and B rounds. Yining Investment and Zhang Ruijie led the financing, with participation from Morningstar InvestmentsDealroom has a profile for this one. Try Dealroom → and Ruijiang KangshengDealroom has a profile for this one. Try Dealroom →.
What does the company do? Fabao applies AI to legal services, running a legal-specific large language model trained on more than 100 million scenarios. It serves a four-part ecosystem spanning government, business, individuals, and lawyers.
Where the money goes: Fazhidao said it will spend the core funding on platform upgrades, research and rollout of what it calls a "legal technology 3.0" system, and expansion of its full-scenario AI legal ecosystem.
Why the structure matters? The deal combined new equity investment with buybacks of older shares. The company said this optimised its equity structure and capital base.
The signal: Legal work is one of the clearest test beds for vertical AI models, where domain-specific training aims to beat general-purpose tools. Fazhidao's raise shows investor appetite for applied legal AI in China, though the platform's breadth across four distinct user groups will test how well one model can serve them all.
Read more: ITJuzi
