Companies around the world are spending €150B every year on trademarks to protect their intellectual property. It’s a task and industry laden with opaque processes, long waiting times and exponential costs. In addressing these challenges, Digip® a Sweden-based legal-tech startup has announced the completion of its €3.2M seed funding round, offering affordable and accessible digital intellectual property services
The company secured an additional €1.2M to add to its €2M from earlier this year to continue a strong growth trajectory into 2023. The seed round was led by Industrifonden and Seed X with participation from various family offices and angel investors from the Stockholm startup ecosystem.
Digip® is a leading startup in the legaltech space which provides an end-to-end digital solution for intellectual property protection. They offer on-demand trademark registration and protection services that give entrepreneurs as well as established businesses an opportunity to protect and strengthen their brand names worldwide, in a digital and user-friendly environment.
During the last 12 months, Digip® has tripled its revenue and increased its geographical spread of customers having expanded their IP service successfully into the US and continued strong growth from other international markets. Significant investment has been made in their tech stack which has enabled them to serve more customers as they scale in 2023. The additional seed round funding will boost their growth momentum.
Viktor Johansson, CEO and Co-founder of Digip®, commented: “We are on a mission to digitise the €150B global trademark market. A company typically spends a 4-figure amount for a trademark search, and waits weeks for results. We have already transformed this experience for users who are reporting average savings of 80% of trademark management fees and cutting a substantial amount of their workload by using the platform and services.
“2023 will be an exciting year for us. We are launching some cool features on our platform in the coming months. This includes an open API where partners can integrate and leverage the Digip® technology as part of their workflows and processes, we are also looking to launch our business into some new markets starting next year. Users can also expect to see a significantly improved trademark search on digip.com. This will be super important to us as staying close to our users will help to provide a superior customer experience everyday.”
Launched in 2020, Digip® is now servicing 500 customers across 42 markets globally, from startups to companies with €600 million revenue seeking full control over their intellectual property rights.
Commenting on the successful closing of the seed round, Tore Tolke, Senior Investment Director at Industrifonden said: “The legal industry has been slow to embrace technology, but the service Digip® is providing shows great potential and the demand is growing. We are happy to support the team on their mission to push the trademark and IP industry forward with cutting-edge technology.”
Coming from the founders’ firsthand experiences, Digip® was created to help entrepreneurs protect their brands for a fraction of a cost charged by law firms. They firmly believe what people create is significant and they should have the same opportunities to protect and own their intellectual property as the world’s leading brands do.