Digip wants to democratize intellectual property: “Startups should have similar opportunities as mega companies”
Stockholm-based startup Digip has raised €3.2 million in seed funding to revolutionize the intellectual property industry.
Launched in 2020, Digip aims to push down the cost of intellectual property services by utilizing digital technology. Its founders believe smaller-scale entrepreneurs should have similar opportunities as mega companies when protecting their brands.
Digip co-founder and CEO Viktor Johansson said a company could spend thousands of euros to do a trademark search and often had to wait for a while to get the 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,” Johansson added.
With Digip, entrepreneurs can now register trademarks and apply for protection services online regardless of their domiciles. Currently, the startup has served 500 clients in more than 20 countries with varying business scales, from small startups to companies with €600 million in revenue.
Venture capitalists Industrifonden and Seed X led the current funding round, which was also joined by numerous angel investors and family offices from Digip’s own network. The Swedish startup raised €2 million at the beginning of the year before securing an additional €1.2 million this December.
Industrifonden senior investment director Tore Tolke said his company invested in Digip because the startup had shown an “amazing potential”. He added that the digitalization of the legal industry could make people leave traditional players by offering more customer satisfaction.
Digip’s future plans
Johansson said his startup plans to do various things in 2023. In the coming months, it will introduce several new features, including an open API to allow partners to integrate Digip’s tech into their systems. Trademark searches on Digip’s platform will see improvements as well.
The Swedish startup, which currently serves businesses across 42 markets, also plans to enter new markets next year.
Har du nyhetstips eller synpunkter? Kontakta oss