On Thursday, startup Patlytics, which offers an AI patent workflow platform, announced that it raised $4.5 million in a seed funding round led by Gradient Ventures, an investment firm backed by Google. According to the press release announcing the investment, the funding round also saw participation from “several undisclosed angel investors including select partners from premier law firms” as well as a number of a number of venture capital firms.
Founded in January 2024 by technology entrepreneur Arthur Jen and venture capitalist Paul Lee, who serve as the startup’s CTO and CEO, respectively, Patlytics looks to automate multiple areas of the patent process, including drafting, infringement evaluation and search by leveraging AI. In the press release, the company noted that it is not “replacing patent professionals (in-house counsels and outside attorneys) but empowering them.”
