IPRally Technologies, a Finnish provider of AI-powered patent search and classification, has secured €10 million in Series A funding led by Endeit Capital. The previous investors Join Capital, Spintop Ventures, and Icebreaker.vc participated.
- IPRAlly is a Helsinki-based company founded in 2018 by Juho Kallio, Juuso Piskonen, and Sakari Arvela. It enables Intellectual Property and R&D professionals to find, analyze, and classify patent information much more efficiently. For that reason, it employs explainable AI that puts the control in the hands of the user.
- The company’s proprietary technology Graph Neural Network allows for both technical and semantic understanding of the global patent data. This makes the searches less dependent on exact keywords and technical expertise, thus reducing the time needed, allowing for more precise business decisions.
“IPRally is Endeit Capital’s third Nordic investment. We’re very excited to be working with IPRally which is based on our investment thesis of disrupting traditional industries with human assisted AI. The combination of the team’s in-depth knowledge of Patent workflows and the power of their proprietary technology provides an incredible opportunity to change this industry,”
Jelle-Jan Bruinsma, Partner at Endeit, comments.
- Endeit Capital is the lead investor during the Series A funding. It is a Dutch/German scale-up investment company founded in 2006. Currently, the company has invested across 7 countries, focusing on AI, deep learning, quantum computing, and democratized algorithms.
- The previous investors in IPRally also joined in the round. The list includes Berlin-based Join Capital, Stockholm-based Spintop Ventures, and Helsinki-based Icebreaker.vc
- The fresh funds will allow IPRally to accelerate the expansion of the company and develop the product towards a complete one-stop shop for AI-driven patent research and competitive intelligence.
