SG's newly-minted unicorn PatSnap eyes new markets, set to expand pharma database
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GermanyJapanFranceGuan-dianஜெர்மனிஜப்பான்பிரான்ஸ்குவான்-டையந்(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.
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