octimine technologies GmbH, a Munich, Germany-based developer od a free semantic patent search and analysis platform, raised €1m in funding.
Backers included Bayern Kapital and a number of business angels.
The company will use the funds to continue to develop its platform.
Founded in 2015 by Dr. Michael Natterer, Dr. Matthias Pötzl and Prof. Dietmar Harhoff as a spin-off of the LMU Munich and the Max Planck Institute, octimine technologies has developed software for patent research and analysis based on topic modeling, clustering and machine learning.
Octimine targets technology and consulting companies, patent law firms, research institutes, inventors and investors and approx. 15,000 users from Siemens, the Fraunhofer Institute and Harvard University, among others, already utlize the software platform.