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Singapore's PatSnap becomes unicorn as SoftBank and Tencent invest

Patent software developer raises $300m as it eyes Japanese market, CEO says

PatSnap founder and CEO Jeffrey Tiong: “My vision is that one day, every R&D engineer can use our tool to help them to innovate better.”  (Screenshot from PatSnap's website)

TOKYO -- PatSnap, a Singapore developer of software that helps companies analyze patent information, said on Wednesday it raised $300 million from a group of investors led by SoftBank Group's Vision Fund 2 and Tencent.

The funding round put PatSnap's valuation at more than $1 billion, vaulting it to unicorn status, according to its founder and CEO Jeffrey Tiong. CPE Industrial Fund and existing investors Sequoia China, Shun Wei Capital and Vertex Ventures also participated in the round.

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