September the 10th, 2024 – Vesna Deeptech VC Fund has officially announced its first investment in Croatia at a press event at the BIRD Incubator. The company in question is Legit.
Vesna Deeptch VC Fund has invested €650,000 in Legit, a Croatian IT company and regional leader in the field of privacy and personal data protection. This investment reaffirms the fund’s commitment to supporting innovative technological solutions that address critical challenges in today’s digital world.
“Vesna Deeptech VC Fund’s mission is to invest in high-tech projects and startups that tackle urgent global challenges or significantly enhance existing products and services through innovation and efficiency. Our investments begin at TRL3 and are focused on continuous growth,” said Nina Dremelj, Managing Partner of Vesna VC Fund. “Our partnership with Legit, a pioneer in applying AI to data protection, marks a major milestone in aligning with our strategy.”
Legit, a company specialized in privacy and personal data protection, has developed a leading B2B Software as a Service (SaaS) platform, Data Privacy Manager, which has been recognized by top analysts Gartner and Forrester. The company is focused on integrating artificial intelligence (AI) into data protection, developing advanced concepts, and offering cutting-edge solutions in this field.
“In recent years, privacy and personal data protection have become top priorities in the tech industry. Vesna Deeptech VC Fund’s investment provides a tremendous opportunity for us to advance our solutions further. We are proud that with the support of this specialized fund, our flagship product, Data Privacy Manager, will continue to grow, and this partnership will enable us to enhance our technology and deliver advanced and innovative privacy protection solutions to the global market,” said Marijan Bračić, CEO of Legit.
One of the speakers at the event was Professor Dr. Marin Golub, Sc., from the Faculty of Electrical Engineering and Computing (FER), who led FER’s project team on the AIPD2 project. The functionality for discovering personal data in both structured and unstructured sources, as a part of the Data Privacy Manager solution, was developed in collaboration with FER through the AIPD2 project (Digital platform for privacy protection and prevention of misuse of managing personal data lifecycle), co-financed by European structural and investment funds (ESI).
The project focused on researching the application of machine learning for personal data classification, aiming to develop a software platform that can identify, classify, and connect personal data, enabling its controlled removal, thereby solving some of the most complex challenges in privacy protection.
“Collaboration between academia and industry is crucial for developing innovative solutions with real market impact,” said Professor Golub. “Through the AIPD2 project, we explored the application of machine learning for data discovery and classification, which has enabled Legit to develop a software platform that helps organizations protect privacy more efficiently.”
about legit
As stated the company Vesna Deeptech VC Fund has invested in is Legit, a RegTech company founded in 2022 as a spin-off from Poslovna Inteligencija. It is one of the pioneers in the emerging field of personal data protection. Its solution, Data Privacy Manager, is a well-established software product recognized by analysts and corporate users. The company focuses on using artificial intelligence in privacy protection and continuously develops new advanced concepts and innovative solutions with its own proprietary technology.
For more information about Legit, click here. For information about Data Privacy Manager, click here.
