OpCo has invested $40 million in Solve Intelligence, a groundbreaking AI platform for the patent industry, aiming to enhance efficiency and modernize patent processes.

Information on the Target

Solve Intelligence is a pioneering AI platform designed specifically for the patent industry, which is valued at over $200 billion. Founded in 2023 by an experienced team comprising CEO Dr. Chris Parsonson, CTO Angus Parsonson, and Chief Research Officer Dr. Sanj Ahilan, Solve Intelligence aims to streamline the patent application process through advanced automation. The platform is capable of handling various tasks, including patent drafting, prosecution, office action responses, and global patent filings. Over 400 intellectual property (IP) teams across six continents, including prominent law firms such as DLA Piper and Perkins Coie, as well as corporate IP departments like Siemens and Avery Dennison, currently utilize Solve's innovative technology.

Industry Overview

The patent industry has faced significant challenges in recent years, despite the consistent fees for patent work remaining largely unchanged for decades. The typical cost of a patent application, for example, has not fluctuated much, even as the complexity and competition within the space have escalated. Patent attorneys and in-house teams are now pressured to deliver more results with fewer resources, creating a bottleneck in efficiency.

This demanding environment has highlighted the insufficiency of traditional tools that were developed in an era when manual processes dominated patent wo