Aistemos, a London, UK-based provider of patent analytics software, secured £3m in Series A funding.
The round was led by Beringea.
The company intends to use the funds to expand its core product, Cipher, develop a range of products focused on specific sectors which are experiencing technology disruption and to expand its team.
Founded in 2013 by Nigel Swycher, Aistemos provides Cipher, which leverages artificial intelligence and machine learning algorithms to classify, identify, and analyze patents. It now supports many market leaders including BAE Systems, ARM, and ABB as well as a roster of international law firms, investors and academic institutions.
The company recently launched Cipher Automotive, which analyzes patented technologies key to the future of the car. This platform – developed in partnership with a number of the world’s leading vehicle manufacturers and suppliers – enables subscribers to understand global trends in autonomous, connectivity, electrification and shared services which are transforming the sector.
Cipher was developed by Steve Harris, CTO of Aistemos.