Patlytics, an AI-powered patent workflow platform, has secured $4.5 million in seed funding spearheaded by Gradient Ventures, Google's AI-focused venture fund. The round also saw participation from prominent investors like 8VC, Liquid 2 Ventures, Tribe Capital, and several law firm partners and tech executives.
Founded in early 2024, Patlytics aims to transform the patent intelligence landscape by automating key aspects of the workflow for IP professionals. The company's AI technology assists with tasks such as initial drafting, office action responses, infringement evaluation, advanced search, and competitor intelligence.
"The AI revolution in patent intelligence is not just about efficiency; it's about transforming how patent professionals strategise and engage with intellectual property," said Paul Lee, co-founder and CEO of Patlytics.
Darian Shirazi, general partner at Gradient, highlighted the growing importance of IP protection as companies increasingly incorporate AI into their products. "Protecting IP remains a major priority and business requirement for information technology, physical product, and biotechnology companies," Shirazi stated.
Arthur Jen, co-founder and CTO of Patlytics, emphasised the laborious nature of the current IP landscape,
"As a former patent attorney, I experienced firsthand the challenges of navigating the complex world of intellectual property," said Lee. "Our goal is to empower IP professionals with cutting-edge AI tools that streamline their workflows and unlock new strategic insights."
With its innovative approach and backing from industry leaders, Patlytics is poised to disrupt the patent intelligence sector and shape the future of IP management.