This startup just received funding to help SMEs protect and nurture their IPs
Lund-based legaltech startup Lightbringer has raised €4.2 million to expand into Europe and the US, as well as develop their AI-powered platform that enables SMEs to protect their IPs more effectively and efficiently.
The funding round was led by Luminar Ventures and Alliance VC, with participation from Zenith Ventures and notable Nordic angel investors.
Dominic Davies, founder and CEO of Lightbringer, said: “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.”
Founded in 2023, Lightbringer has developed an AI-driven platform that streamlines the process of securing intellectual property (IP) rights for SMEs.
The platform serves as a virtual IP department, allowing companies to refine patent ideas efficiently and cost-effectively. By leveraging advanced AI technology, it identifies, analyses, and enhances ideas in real-time, simplifying the traditionally complex and expensive patenting process.
According to their website, Lightbringer can save clients up to 70% of the time spent on patent applications. Their services include a guided innovation journey through a comprehensive 10-step process, AI-supported patent application building, and collaboration with experienced patent attorneys who provide strategic advice and manage filings. The platform also features a collaborative workspace for team efforts, application progress tracking, and support for securing global protection across multiple jurisdictions.
This technological approach is complemented by expert patent attorneys who ensure the final quality meets professional standards.
The global patent industry is valued at over €90 billion, yet SMEs and startups often find patent protection prohibitively costly and complex. Lightbringer aims to address this gap by providing accessible and efficient IP solutions tailored to the needs of smaller enterprises.
The recent funding will support Lightbringer’s expansion into European and U.S. markets, enabling more SMEs to protect their innovations effectively.
Daniel Karsberg, partner at Luminar Ventures, commented on the investment: “In an age where artificial intelligence can analyse 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.”
The subscription model was launched in May 2024, aiding in Lightbringer’s rapid growth and introduction of several new key features aimed at helping clients support and grow their ideas.
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