Legal tech company Lightbringer raises €4.2 - lets companies build patent portfolios with AI
PRESS RELEASE 18 dec 2024
Lightbringer co-founders: Ola Wassvik, Markus Andreasson and Dominic Davies. Foto: Lightbringer/Ludwig Bergman
The Swedish company Lightbringer continues to break new ground in patent protection with its advanced AI technology. The company has secured €4.2 million in a successful funding round led by venture capital firms Luminar Ventures and Alliance VC. Other investors include Zenith Ventures and several prominent angel investors from the Nordic tech ecosystem. The capital will be used to further develop the platform and strengthen the company’s international presence.
"Lightbringer is transforming the global patent industry, which has a market size of over €90 billion, by targeting an underserved market – small and medium-sized enterprises (SMEs) and startups that have traditionally found patent protection both costly and complex. The company’s unique strategy of using AI to deliver high-quality patent solutions without relying on traditional law firm models has already demonstrated impressive results," says Daniel Karsberg, partner at Luminar Ventures.
Lightbringer has developed an AI-driven platform that enables companies to protect their intellectual property faster, more easily, and cost-effectively. The platform, built with expertise from experienced patent consultants, functions as a virtual IP department where companies can refine their patent ideas anytime. Abstracting complexity away from patent and IP management, it uses advanced AI technology to identify, analyze, and enhance ideas in real-time. This cutting-edge technology is complemented by expert patent attorneys who ensure the final quality and guarantee that the service meets professional standards.
"In an age where artificial intelligence can analyze 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. With this capital injection and the expertise of our investors, we will be able to scale up and support many more companies in their patent work. 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,” says Dominic Davies, founder and CEO of Lightbringer.
“We are impressed with how the Lightbringer team combines deep understanding of patents with AI technology to create a product that makes the patent process both simpler and cheaper for SMEs”, says Henrik Torstensson, partner at Alliance VC.
Since launching its subscription model in May 2024, Lightbringer has experienced rapid growth and introduced several key new features to help customers secure and strengthen their ideas at scale. A central part of the company’s growth strategy is its plans to establish operations in the United States, the world’s largest and most dynamic patent market. Backed by its investors and groundbreaking technology, Lightbringer is poised to redefine how businesses worldwide protect and capitalize on their innovations.
For more information, please contact:
Dominic Davies, CEO Lightbringer
+46709646281
dominic@lightbringer.com
Lightbringer was founded in 2023 by Dominic Davies, an experienced patent attorney and software engineer, along with Markus Andreasson, an AI engineer and platform architect, and Ola Wassvik, former co-founder and CTO of FlatFrog. The company is headquartered in Lund, Sweden. www.lightbringer.com.
Alliance VC is a Nordic venture capital firm investing in early-stage technology companies with offices in Stockholm, Oslo, Copenhagen and Helsinki. Portfolio companies include 1X, Gilion, Helppy, Sanity, Superside and Xeneta. www.alliance.vc
Luminar Ventures is a Nordic-focused seed fund that invests in visionary entrepreneurs who leverage software technology to solve large, global problems. The fund focuses on emerging technologies and aims to bridge the gap between innovation and market need. www.luminarventures.com.
Zenith Ventures is a Nordic early-stage venture capital firm investing in B2B software and AI businesses focused on solving real-world business problems. We back strong technical teams with unique domain expertise and an ambitious vision to lead their industry. www.zenithvc.se/
