IPRdaily introduction: On March 17, 2021, PatSnap announced that it had completed a $300 million round of E financing. This round of financing was led by Tencent and SoftBank Vision Fund II, followed by CPE, and continued to be held by Sequoia China, Shunwei Capital and Xiangfeng Investment and other old shareholders. Zhang Jihui, founder and CEO of PatSnap, said that after this round of financing, the company will accelerate the investment in big data and artificial intelligence technology research and development and application, continue to consolidate product capabilities, increase market investment and develop more outstanding talents, improve the overall innovation ability and better serve customers.
On March 17, 2021, PatSnap announced that it had completed a $300 million round of E financing. This round of financing was led by Tencent and SoftBank Vision Fund II, followed by CPE, and continued to be held by Sequoia China, Shunwei Capital and Xiangfeng Investment and other old shareholders. Index Capital acted as exclusive financial advisor.
PatSnap is a SaaS (Software as a Service) service provider of science and technology innovation information, focusing on science and technology innovation information and intellectual property information services. Through machine learning, computer vision, natural language processing (NLP) and other artificial intelligence technologies, PatSnap provides big data intelligence services to the world's leading technology companies, universities, scientific research institutions, financial institutions and so on.
Zhang Jihui, founder and CEO of PatSnap, said that the mission of PatSnap is to serve the innovation world with the power of innovation, connect all the innovation nodes, and enable innovators to create unlimited possibilities for the world. After this round of financing, the company will accelerate investment in big data and artificial intelligence technology research and development and application, continue to consolidate product capabilities, increase market investment and develop more outstanding talents, improve overall innovation ability and better serve customers.
PatSnap has built a rich and mature product matrix around scientific and technological innovation and intellectual property. Its products include PatSnap Global Patent Database, InnoSnap Intellectual Property Management System, Insights Yingce Patent Analysis System, Discovery Innovation Intelligence System, Life Science series database, etc.
"Chinese companies' demand for innovation and intellectual property services is growing rapidly," said Leben Yao, managing director of Tencent Investment. As a leading manufacturer in this field, PatSnap has been working for more than a decade, with forward-looking insights into innovation and intellectual property, and has accumulated rich capabilities in big data and artificial intelligence. At the same time, based on the needs of customers, we can constantly consolidate products and improve services, and create unique value for customers and the industry."
"SoftBank believes in the power of technology to change the world," says Chen Xun, managing partner of SoftBank Investment Advisers. "It's definitely very exciting to see Smarty Shine with its world-leading technological capabilities in big data and artificial intelligence." We are confident that the Innovation and Intellectual Property Intelligence Service is helping to take global innovation capacity to the next level and help more companies around the world innovate and grow."
Sequoia China successive rounds of blessing of PatSnap, sequoia capital China, a partner at the said: "the sequoia China with PatSnap growth, because we like PatSnap the dreams and down-to-earth entrepreneurial teams, also bullish on the company's growth prospects, are accelerating the industry, and will usher in a brighter future."
With its own technical capabilities and strong product capabilities, PatSnap has served more than 10,000 customers in more than 50 countries around the world, covering more than 50 high-tech industries such as universities and research institutes, biomedicine, chemistry, automobile, new energy, communication, electronics and so on. Our domestic customers include Tsinghua University, Peking University, Chinese Academy of Sciences, Sinopec, Haier, Midea, Xiaomi, Ningde Times, Xiaopeng Automobile, DJI, WuXi AppTec, SenseTime, Huada, etc.; International clients include MIT, Oxford University, Dow Chemical, Dyson, Spotify, and others.
