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Patlytics safeguards corporate IP with support from Google’s Gradient

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Patlytics, an AI-powered patent analytics platform, wants to help enterprises, IP professionals, and law firms speed up their patent workflows from discovery, analytics, comparisons, and prosecution to litigation. The outfit recently launched its product, which is SOC-2 certified, and already serves some top-tier law firms and a few in-house legal counsels at enterprises as customers. Its target users include IP law firms and companies with several patents. “Protecting intellectual property remains a major priority and business requirement for information technology, physical product, and biotechnology companies. Notably, the round also attracted a host of angel backers, including partners at premier law firms, Datadog President Amit Agarwal, Fiscal Note founder Tim Hwang, and Tapas Media founder Chang Kim.

PayPal Invests $47M in Indonesian InsurTech Startup Qoala

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PayPal Ventures’ latest investment is in an Indonesian startup that provides personal insurance products covering a variety of risks, including accidents, phone screen damage, and ticket cancellations. Qoala has secured $47 million in a new round co-led by PayPal Ventures and MassMutual Ventures, the five-year-old startup said Wednesday. Qoala, headquartered in Jakarta, is an insurance broker that works with top local insurers and e-commerce firms to offer customers personalized and affordable products. The startup sells these insurance both through its website and app as well as through offline engagements. “It is commendable to see what Qoala has achieved in a short period of time,” said Alexandros Bottenbruch, Principal at PayPal Ventures in a statement.

“Utilizing Google’s Gradient Technology: Empowering Enterprises with Send AI for Efficient Data Extraction from Complex Documents”

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A fledgling Dutch startup wants to help companies extra data from large volumes of complex documents where accuracy and security is paramount — and it has just secured the backing of Google’s Gradient Ventures to do so. How it worksCompanies can access Send AI’s cloud-based software via APIs which funnels data from documents sent over email. Upon receipt, Send AI visually enhances the documents before sending to its language models for classification and extraction. In terms of pricing, Send AI charges on a credit-based basic, whereby customers pay per processing-step. Send AI attempts to address such concerns by deploying small, isolated open source transformer models for each customer.

Sequoia invests in Coana for advanced vulnerability management through ‘code aware’ software analysis.

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Silicon Valley venture capital (VC) juggernaut Sequoia is backing a fledgling Danish startup to build a next-gen software composition analysis (SCA) tool, one that promises to help companies filter through the noise and identify vulnerabilities that are a genuine threat. For context, most software contains at least some open source components, many of which are out-of-date and irregularly — if at all — maintained. In turn, this is leading to an array of fresh regulation, designed to strong-arm businesses into running a tighter software supply chain. The problem is, with millions of components permeating the software supply chain, it’s not always easy to know whether a given application is using a particular component. And this is where Danish cybersecurity startup Coana is setting out to make a difference, using “code aware” SCA to help its users separate out irrelevant alerts and focus only on those that matter.

Aye Finance Secures $37M in Funding from British International Investment

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In 2020, the startup raised $27.5 million in its Series E funding round led by Alphabet’s CapitalG. It competes with the likes of Capital Float, Lendingkart and Indifi, which all work toward offering credit to small enterprises in the South Asian nation. One key reason for startups like Aye Finance and others to gain enough traction in India is the lack of credit for small businesses. “Aye Finance is on a growth journey, and we are delighted to partner with BII, who have a deep understanding of the financial services sector in India. “Our investment in Aye Finance underscores our commitment to back companies that have a strong development impact philosophy and promote financial inclusion for India’s underserved groups.