Singapore-founded IP platform raises $300 million to become unicorn

SINGAPORE (Reuters) – PatSnap, an intellectual property platform, has raised $300 million in its latest funding round led by SoftBank Vision Fund 2 and Tencent Investment, joining a list of global technology unicorns.

Existing investors Sequoia China, Shun Wei Capital and Vertex Ventures Southeast Asia & India also participated in the round, said the Singapore-founded firm whose clients include Dyson, Spotify, Oxford University Innovation, and The Dow Chemical Company.

PatSnap has raised more than $400 million since its founding in 2007, co-founder and Asia Pacific Vice-President Guan Dian said in an interview.

After the latest financing, PatSnap’s valuation has risen to “much more than” $1 billion, Guan said, but did not disclose a specific amount.