SoftBank mints new unicorn by backing PatSnap


Tencent booth exhibition

SINGAPORE: Singapore’s PatSnap Pte Ltd reached a valuation topping US$1bil (RM4.12bil) with a fresh funding round, with SoftBank (pic) 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 US$300mil Series E round, the software company said in a statement. PatSnap will use the funds for product development and expanding its sales presence.

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