SoftBank Mints New Unicorn by Backing Analytics Firm PatSnap

Tencent also investing in intellectual-property data provider
Clients like Xiaomi, Dyson use PatSnap for patent research

WATCH: Jeffrey Tiong, founder and chief executive officer of Singapore’s PatSnap, a provider of patent analyticsdiscusses the company's outlook and strategy.(Source: Bloomberg)

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By Yoolim Lee

March 16, 2021 at 9:30 PM UTC

This article is for subscribers only.

Singapore’s PatSnap Pte reached a valuation topping $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 $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.