Singapore’s PatSnap closes series C funding round led by Sequoia Capital

Human interaction with artificial intelligence | Photo: Bloomberg

Singapore’s PatSnap, an intellectual property intelligence firm powered by artificial intelligence, has raised an undisclosed amount in a series C funding led by Sequoia Capital China.

Chinese venture capital firm ShunWei Capital too participated in the funding round, according to an announcement today.

PatSnap had earlier raised money in a series A and B funding rounds from Summit Partners and Vertex Ventures in 2014 and 2015, according to media reports.

PatSnap claims to operate one of the biggest intellectual property data-set in the world with over 118 million patents, complete with licensing and litigation data, economic data, patent valuation, image and chemical formula search, trademark recognition and other metrics.

“With our roots in China, we are a technology-focused Software as a Service (SaaS) company dedicated to providing professional services to over 3,000 companies in and outside of China,” PatSnap co-founder Zhang Jihui said in the announcement.

The company utilizes the data to help companies including IBM, US Department of Defence and NASA to handle their intellectual property-related analytics.

With offices in Singapore, London, Silicon Valley, Beijing, Shanghai and Suzhou, the company currently has over 200 research and development professionals.

“Creating high quality product to service the world by utilizing China’s competitive advantages in technology research and development is a business model that we we like,” said Shunwei Capital founding partner and CEO Tuck Lye Koh.

ShunWei mainly invests in early startups and growth companies in the internet industry, mobile Internet, high tech, and any other opportunities created by disrupting traditional businesses.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.