AI patent platform secures $4.5m funding spearheaded by Google
Patlytics closed a seed round led by Gradient Ventures | Lawyers among group of investors | Software automates aspects of the patent process.
Patlytics has closed a $4.5 million seed funding round led by Gradient Ventures, Google’s AI-focused venture fund.
Patlytics is an AI-powered patent workflow platform that automates tasks for IP professionals.
The company, which was created at the start of 2024, uses AI technology to automate key aspects of the workflow, such as initial drafting, office action responses, infringement evaluation, advanced search, and competitor intelligence.
Paul Lee, co-founder and CEO of Patlytics, emphasised the transformative potential of AI in the patent intelligence space.
"The AI revolution in patent intelligence is not just about efficiency; it's about transforming how patent professionals strategise and engage with the entire patent lifecycle," said Lee.
Through understanding the blend of technical and legal expertise required for patent work, Patlytics has developed its platform to be an “indispensable ally for patent professionals," according to Lee.
The funding round included participation from a range of investors, such as 8VC, Joe Montana’s Liquid 2 Ventures, Tribe Capital, Vermilion Ventures, Gaingels, Alumni Ventures, Position Ventures, and several undisclosed angel investors, including partners from law firms and Datadog president Amit Agarwal.
Darian Shirazi, general partner at Gradient, said: "Protecting IP remains a major priority and business requirement for information technology, physical product, and biotechnology companies."
As companies incorporate AI into their new products, companies from the automobile to the pharmaceutical industry are eager to protect new inventions and watch for infringement from competitors, explained Shirazi.
Speaking from his past experience Arthur Jen, co-founder and CTO of Patlytics, stressed the IP landscape can be “laborious”. However, the AI-integrated patent workflow aims to enhance efficiency and provide insights while protecting data security and privacy.
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