A Swedish legaltech startup has secured €4.2 million in funding to expand its operations across Europe and the United States, while further developing its AI-driven platform designed to empower small and medium-sized enterprises (SMEs) to better protect their intellectual properties.
The funding round was led by Luminar Ventures and Alliance VC, with participation from Zenith Ventures and prominent Nordic angel investors.
As the visionary leader behind Lightbringer, he remarked,
Lightbringer has pioneered an innovative, AI-powered platform designed to simplify and expedite the intellectual property (IP) rights protection process for small-to-medium-sized enterprises (SMEs), as of 2023.
The platform acts as a cutting-edge digital intellectual property hub, empowering companies to develop and optimize patent ideas efficiently and economically. Utilizing cutting-edge AI capabilities, this innovative tool rapidly detects, scrutinizes, and optimizes complex concepts in real-time, significantly streamlining the previously arduous and expensive patent application process.
According to their website, Lightbringer enables customers to reduce the time spent on patent proceedings by up to 70%. Providers partner with experienced professionals on a 10-step, AI-assisted patent development process, featuring comprehensive coaching, expert guidance, and seamless collaboration with patent attorneys for optimized strategy and streamlined filings. The platform also features a collaborative workspace for seamless team efforts, real-time utility progress tracking, and support for ensuring global security across multiple jurisdictions.
This innovative technology is seamlessly supported by expert patent attorneys, ensuring a superior quality that consistently exceeds industry standards.
The global patent market is estimated to be worth over €90 billion, yet small-to-medium-sized enterprises (SMEs) and start-ups often find patent protection unaffordably costly and labyrinthine. Lightbringer aims to address this gap by providing affordable and eco-friendly intellectual property solutions specifically designed for the needs of smaller businesses.
The recent influx of funding will facilitate Lightbringer’s expansion into the European and U.S. markets. markets, thereby empowering a greater number of small and medium-sized enterprises (SMEs) to effectively safeguard their innovations.
Luminar Ventures’ accompanist commented on the funding.
The Lightbringer platform introduced its subscription model in May 2024, facilitating the rapid growth and roll-out of innovative features designed to support customers in nurturing and advancing their ideas.
