Swedish Startup Space

Hottest startup on Gotland raises $3 million to become next Clipart

Written by on September 25, 2015

Image-service Pichit attracts angel investor network Seraph and Mecom as new investors.

We have previously covered (article in Swedish at Breakit) Visby-based Pichit, which aims to create for images what Spotify has for music – to establish a legal, digital alternative.

The company has far-reaching plans to cooperate with Microsoft, which means Pitchit’s image-service has been integrated with the latest versions of Word and Powerpoint, among other software. A typical user would be a consultant making a presentation. Pichit gives him or her the opportunity to use photos legally through the service instead of stealing copyrighted images off the internet.

The position as a standardized image resource within the Office bundle is vacant since Microsoft signed off its retainer Clipart last year.

“We continue to work very close with Microsoft. We have sacrificed a lot to maintain the position we have within their ecosystem.”, Pitchit’s cofounder Henrik Bergqvist says.

The company is now raising it’s first larger round of venture capital. Among the new investors are Mecom and Seraph, both international angel investor networks.

Henrik Bergqvist does not want to comment on details regarding the round, but documents from Bolagsverket show that the company has raised a totalt of $3 million in equity, convertibels and loans. Almi Invest and Almi Företagslån also participated in the round.

Documentation regarding the capital procurement reveals that the company goal is to reach at least 250.000 registered users within the coming 18 months.

“What I can say is that we are getting calls from within the industry, constantly. Image agencies have realized that we are a way to enter the Microsoft echo system. That is why they call and want us to include their images in our service”, Henrik Bergqvist says.

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