Clairvolex, a US and India based startup which develops tech to manage assets related to IP, has added an additional $3.5 Million to its ongoing Series B round of funding.
Earlier, the company had raised $8Mil in Series B and $4M in Series A, thus making it a a combined raise of $15.5Mil. The funds were used to build and launch a new product – LEAP-IP, an Artificial Intelligence (AI) enabled IP solutions platform. These additional funds will now be deployed to deepen LEAP’s market penetration, expand sales and marketing footprint in the US and Europe. They are also looking at adding more data science and data engineering capabilities in both Bangalore and Los Altos, CA centers.
Clairvolex Inc. functions in the Intellectual Property (IP) asset management domain, a niche where there are fairly few tech startups. The company already is a strategic patent portfolio development partner to some of the world’s biggest companies such as General Electric, Ericsson, Philips, Amazon and Qualcomm. With The company has offices across US with a global team of experts who offer expert-IP solutions to customers using the LEAP technology platform.
Powered by ML, AI and automation, and with an extensive data, Clairvolex’s LEAP offers enhanced patent development and monetization capabilities, helping companies build a patent portfolio strategies with potential for higher monetization at half the current level of investments. LEAP claims to have access to over 12 million patent data records at the backend, more than 30,000 IP specific rules and at least 130 automated standard operating procedures supported by Natural Language Processing algorithms to streamline patent prosecution.
Firoz joins The Tech Portal to report on all stuff that relates to developers and their community. He is actively involved in multiple startups, helping them build and develop modern web products.