German AI Startup IPlytics raises several millions in financing to disrupt patent analytics
Berlin-based IPlytics, the company disrupting patent analytics with an artificial intelligence (AI)-powered patent analytics software, receives several million Euros in venture capital as part of a financing round led by German VC investor eCAPITAL, with High-Tech Gründerfonds (HTGF) joining the round as existing shareholder. The capital will be used for the further technical development of the software as well as the expansion of sales into international markets, in particular USA, Korea and Japan.
Founded in 2014 by a team of economists, data scientists and computer engineers, the Berlin, Germany-based IPlytics develops a market intelligence tool to analyze technology trends and market competition. Its interdisciplinary team combines knowledge about statistical methods, Natural Language Processing and Artificial Intelligence developing the market intelligence solution IPlytics Platform. IPlytics Platform is a sophisticated market intelligence tool to search and analyze technology and market landscapes. The SaaS-based market intelligence tool empowers its users to analyze technology landscapes, market developments and a company’s competitive position for any industry.
“Patents have developed into a company’s most valuable asset and will in most cases determine the success of any business in the long term,” says founder and CEO Tim Pohlmann. Increasing connectivity will result in ever more patented solutions being used in, for example, smartphones, computers, cars, machines, meters or even medical devices. Strategically placed patents can block entire industries. Recent patent disputes – such as Broadcom’s billion-dollar lawsuit against Volkswagen – show the enormous financial risks involved. IPlytics sheds light on patent thickets, allowing companies to better understand the complexity of patented technologies in order to minimize risks and react strategically.”
Tim went on to say: “We do not want to replace the patent attorney, but intelligently support the yet often manual analysis. Our customers have domain knowledge and understand the content of a patent, but the number of patent applications has become too large to read everything. The learning algorithm of the IPlytics Platform utilizes users’ input to evaluate patents, cluster them and link them to other documents such as research articles, technology standards or company profiles.”
The Berliners now want to market their software internationally. “We already have customers around the world who use the software”, says Pohlmann. The cloud interface is in English and translates e.g. Chinese, Korean or even Japanese documents into English.
It is important for companies in every industry to be informed at an early stage about relevant or even dangerous patents. It is not just about monitoring competition, but also about understanding who is investing in the next technology trend that will change or even disrupt future markets. While most patent information is freely available online, it has become impossible to systematically analyze and understand more than monthly 500,000 new patent applications, over 400,000 new research articles, or over 40,000 newly founded start-ups.
IPlytics was founded with the vision to revolutionize technology and market analysis with the help of an artificial intelligence algorithm. “With its agnostic analysis approach, IPlytics has been able to link patent data to a variety of other data sources and automatically generate valuable new insights. In particular, for so-called standard essential patents, which serve as the basis for new standards like 5G or WiFi, IPlytics has developed a unique solution ” comments Hannes Schill (Partner, eCAPITAL),” Therefore, IPlytics’ SaaS solution already attracts many well-known customers.” These include, among others Volkswagen, Audi, Daimler and Fraunhofer in Germany. But also, Intel, Qualcomm, Microsoft, Panasonic, Canon, LG or Huawei internationally. The cloud-based
analytics data platform can be used to analyze any industry worldwide and offers various departments, e.g. patent, innovation, technology or strategy departments a fact-based and trustworthy overview of critical patents and relevant market and technology shifts.