AI firm Harvey has raised 200 million dollars in a new funding round that values the company at 11 billion dollars, equivalent to 102 billion Swedish kronor, according to a press release.

The financing was led by Singapore's sovereign wealth fund GIC and venture capital firm Sequoia, coming just months after a previous round at an 8 billion dollar valuation.

Harvey develops AI tools for legal services, which are currently utilized by more than 100,000 lawyers across 1,300 organizations.

The capital is earmarked for the development of so-called AI agents capable of performing tasks autonomously, as well as for the global expansion of the company's legal engineering team.

Previous investors in Harvey include venture capital firm EQT and investment company Flat Capital.