Patlytics raises $14M for its patent analytics platform

For decades, patents have been a bone of contention in the technology world, seen by some as a way to protect intellectual property, but by critics as a blunt weapon against innovation. In the age of AI, they are once again getting revisited. New York startup Patlytics has developed an AI-enabled patent analytics platform to help corporations, IP professionals and law firms streamline their patent workflows from discovery, analytics, comparison, and prosecution to litigation. The Google-backed startup said Monday it had closed $14 million in a Series A round led by Next47 with participation from existing investors, including Google’s Gradient, 8VC, Alumni Ventures, Liquid 2 Ventures and Myriad Venture Partners. Its Series A financing, which brings its total raised to $21 million, came roughly 9 months after its previous seed round in April. CEO Paul Lee and CTO Arthur Jen co-founded Patlytics in January 2024. Former venture capitalist Lee saw that IP companies were using antiquated ... Read full article.