SoftBank Mints New Unicorn by Backing Analytics Firm PatSnap

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.

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)

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 ...