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(March 17): Singapore’s PatSnap Pte reached a valuation topping US$1 billion with a fresh funding round, with SoftBank Vision Fund II and Tencent Investment among those backing the provider of patent analytics.
CPE Industrial Fund and existing investors Sequoia China, Shunwei Capital and Vertex Ventures joined the US$300 million Series E round, the software company said in a statement. PatSnap will use the funds for product development and expanding its sales presence.
PatSnap is benefiting from a surge in R&D spending, with the U.S. and China seeking an edge in technology and science amid heightened trade tensions between the countries. PatSnap’s software lets inventors and researchers gain insights into innovations being developed around the world.
SINGAPORE (BLOOMBERG) - Singapore-founded PatSnap reached a valuation topping US$1 billion (S$1.35 billion) in a fresh funding round, with SoftBank Vision Fund 2 and Tencent Investment among those backing the provider of patent analytics.
CPE Industrial Fund and existing investors Sequoia China, Shunwei Capital and Vertex Ventures joined the US$300 million Series E round, the software company said in a statement. PatSnap will use the funds for product development and expanding its sales presence.
Joining the list of global technology unicorns, PatSnap is benefiting from a surge in research and development spending, with the United States and China seeking an edge amid heightened trade tensions between the countries. PatSnap s software lets inventors and researchers gain insights into innovations being developed around the world.
SoftBank mints new unicorn by backing PatSnap thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.