Lithuanian fund 70V invested in Denmark’s platform for securing digital credentials Diplomasafe

Lithuanian venture fund 70V invested in Denmark’s platform for securing digital credentials Diplomasafe. A €1M round was led by Denmark’s Ugly Duckling Ventures. Denmark’s KMD Venture A/S and company AMA-GI ApS & Winther & Aabo ApS also participated in this deal.

Diplomasafe was founded by Mikkel Egehave, Kim Steenkjær Mortensen, and Peter Lind Damkjær in Copenhagen (Denmark) in 2016. It is a software platform, which is based on crypto technology.  Educational organizations can use the platform to issue digital credentials, replacing the traditional paper format and avoiding the problem of easily copied credentials. The platform helps education institutions to reduce the resources they spend on creating, issuing, and verifying transcripts and diplomas to and by their students. 

Diplomas can be shared with a future employer, authority, or school. In addition, the graduate can share his new skills in a pre-designed social media update (on Facebook or Linkedin). The Diplomasafe customers are training and certification companies, industry organizations, universities, schools, and other organizations working professionally with education. The startup will use the investment for acceleration of product development and expansion to new markets.

Vilnius-based, 70V is a venture capital fund and accelerator, founded in 2018. It has two funds - 70Ventures Accel and Seed. 70V focuses on the startups from Nordic and Baltic regions. The fund provides milestone-based financing up to €400K. The fund's partners are Per Moller, JB Daguené, and Gytenis Galkis.