Digip, a Swedish legal tech startup that provides accessible and cheap digital intellectual property services, has announced the conclusion of its €3.2 million seed investment round.
Through the use of its technological platform, the startup will digitize the €150 billion legal market for trademark ownership and protection.
To maintain its excellent growth trajectory through 2023, the company has secured an extra €1.2M to add to its €2M from earlier this year. With support from several family offices and angel investors from the Stockholm startup community, Industrifonden and Seed X led the seed round.
Digip is an on-demand trademark registration and protection service that gives business owners the chance to protect and strengthen their brand names globally in a digital and user-friendly environment, in place of traditional lawyers and cumbersome procedures.
The Stockholm-based firm was established in 2020 and now has customers in more than 20 nations. Additionally, it serves 500 clients in 42 countries throughout the world, ranging from start-ups to enterprises with a €600 million annual turnover that want complete control over their intellectual property rights.
The CEO and co-founder of Digip, Viktor Johansson, said: “A company generally pays four figures on a trademark search and has to wait weeks for results. By using the platform and services, users are reporting average savings of 80% on trademark management fees as well as a significant reduction in their workload, which has already completely changed their experience.
The year 2023 will be fantastic for us, said Viktor Johansson. In the upcoming months, we will be introducing some awesome features to our platform. We also want to expand into some other markets starting in the coming year. This includes an open API where partners may integrate and use the Digip technology as part of their workflows and processes.
He went on, “Additionally, users can anticipate a noticeably better trademark search on digip.com. This will be crucial for us since it will enable us to consistently deliver a better customer experience by keeping a close eye on our users.
Tore Tolke, Senior Investment Director at Industrifonden, commented on the successful closure of the seed round as follows: “The legal business has been hesitant to embrace technology, leaving traditional players behind. However, Digip is showing incredible promise, and demand for its services is rising. Their ground-breaking business strategy is demonstrating their ability to produce results and revolutionize the trademark and IP sector.”
“We are excited to support the team that aims to advance the sector through cutting-edge technologies and satisfied customers. Digip’s future appears promising, Tore continued.
Digip was developed as a result of the founders’ personal experiences to assist business owners in securing their brands at a fraction of the price of hiring a law firm. They truly think that what individuals produce matters and that they should have the same opportunity to own and defend their intellectual property as the top brands in the world.
Image Credit: Digip