Swedish company Lightbringer has announced €4.2 million in funding to expand its AI-driven platform for protecting intellectual property, targeting SMEs and startups.
Swedish legaltech company Lightbringer has announced that it has secured €4.2 million in funding, a move aimed at bolstering its presence both in Europe and the United States. The company has created an AI-driven platform designed to streamline the process of protecting intellectual property (IP) for businesses, particularly targeting small and medium-sized enterprises (SMEs) and startups that traditionally face challenges in this area.
Lightbringer’s platform serves as a virtual IP department, allowing businesses to refine their patent ideas with increased speed, ease, and cost-efficiency. The technology not only employs advanced artificial intelligence to identify, analyse, and enhance patent-related ideas in real-time but also involves expert patent attorneys who oversee the final output to ensure that the quality of the service adheres to professional standards.
This latest funding round was led by Luminar Ventures and Alliance VC, with participation from Zenith Ventures and several influential angel investors within the Nordic tech ecosystem. The global patent industry is a significant market, boasting a size exceeding €90 billion, and Lightbringer aims to provide essential services to an underserved segment of this market.
Daniel Karsberg, a partner at Luminar Ventures, expressed his views on the need for innovation in the patent sector, stating, “In an age where artificial intelligence can analyse millions of documents in seconds, we’re still processing patents like we’re reading them by candlelight. The system isn’t just ready for disruption – it’s begging for it.” This sentiment underscores the critical timing of Lightbringer’s interventions in the industry.
Dominic Davies, the founder and CEO of Lightbringer, remarked on the significance of the platform, stating, “Our platform provides both small and large companies with the tools they need to build strong patent portfolios – something that has previously been reserved for large corporations with substantial resources. This is the patent service of the future.” Since the introduction of its subscription model in May 2024, the company has seen rapid growth and has rolled out several features aimed at helping customers secure and reinforce their ideas on a larger scale.
The new funding will be funnelled into further development of the platform and to enhance Lightbringer’s international outreach, potentially positioning the company as a significant player in the legaltech landscape.
Source: Noah Wire Services
- https://www.lightbringer.com – Corroborates the existence and mission of Lightbringer, a Swedish legaltech company focused on IP protection using AI.
- https://www.lightbringer.com/about – Provides details on Lightbringer’s founding, mission, and the expertise of its founders, including Dominic Davies.
- https://www.lightbringer.com – Describes the AI-driven platform and how it streamlines the patent process for businesses, especially SMEs and startups.
- https://www.lightbringer.com/about – Explains the involvement of expert patent attorneys in ensuring the quality of the service provided by Lightbringer.
- https://www.noahwire.com – Although not directly accessible, this is the source mentioned for the funding announcement and other details about Lightbringer’s growth and plans.
- https://www.lightbringer.com/about – Details the funding round led by Luminar Ventures and Alliance VC, and the participation of other investors, though the specific funding amount is not mentioned here.
- https://www.lightbringer.com – Discusses the global patent industry’s size and Lightbringer’s aim to serve an underserved segment of this market.
- https://www.lightbringer.com/about – Quotes from key figures like Daniel Karsberg and Dominic Davies on the need for innovation in the patent sector and the significance of Lightbringer’s platform.
- https://www.lightbringer.com – Mentions the introduction of Lightbringer’s subscription model and the subsequent rapid growth and feature rollouts.
- https://www.lightbringer.com/about – Explains how the new funding will be used for further platform development and international outreach.
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