PatSnap, a Singapore-based patents analytics platform, raised S$4.5m in funding.
The round was led by Vertex Venture Holdings Ltd, with participation from existing investor Accel-X Pte Ltd.
The company intends to use the funds to further expand its operation worldwide.
Founded in 2007 by Jeffrey Tiong, CEO, PatSnap is a patent analytics platform that allows non IP-proficient users to understand the patent landscape. The platform allows users to visualize patent search results on a 3-dimensional topographical map. Patents are grouped into “islands” according to their technology areas, and different colored spots on the islands represent patents owned by different companies. Users are then able to identify patents within the islands which are relevant to them without having to plough through the entire patent document.
To date, the company has served more than 500 clients and thousands of users in more than 30 countries worldwide including IBM, National Institutes of Health, United States Department of Defence, MIT and Singapore’s Agency for Science, Technology and Research. It currently has presence in Singapore, Suzhou, Shanghai and London, and aims to establish a US presence in the near future.
FinSMEs
02/09/2014