Tradespace Inc., a San Francisco, CA-based provider of an AI-powered IP management platform, raised $4.2m in seed funding.
The round, which brought the total raised to $5.2m, was led by Eniac Ventures with participation from Abstract Ventures, Amplo VC and Scrum Ventures.
The company intends to use the funds to expand operations and its development efforts.
Led by Alec Sorensen, founder and CEO, Tradespace uses AI to enable organizations to build intellectual property portfolios, evaluate new inventions, manage complex patent strategies and discover high-value licensing opportunities. Its AI-powered IP commercialization platform reduces the time and money teams spend researching IP while uncovering new opportunities to create value from their portfolios through commercialization, partnership, financing and M&A.
With breakthrough technology and a bold vision for the industry, Tradespace has already generated over $100M in IP revenue for high-tech organizations, including AGC, BAE Systems, the Department of Defense, and leading research institutions like the Department of Energy, MITRE and Northeastern University. Tradespace has grown its revenue by 100% for the last three quarters and most recently, was selected to develop an IP marketplace for the U.S. Army Research Lab.
FinSMEs
15/11/2023