DeepIP Nabs $15 Million To Make Patent Filing A Breeze With Its AI-Assistant

Patents are essential for promoting innovation, safeguarding inventions, and maintaining a level playing field. It is the process of obtaining legal protection for a new invention or innovation, granting the inventor exclusive rights to use, make, sell, and license the invention for a specified period.

This gives inventors the assurance that they can capitalize on their innovation without the fear of competitors stealing it. For instance, the iPhone design by Apple was patented, ensuring that other companies couldn’t create identical designs and sell them as their own. Similarly, pharmaceutical companies like Johnson & Johnson and Merck rely heavily on patents to protect their drug formulas, securing their market position and enabling them to recoup the investments made in research and development.

But this entire process of obtaining a patent can be infamously lengthy in and around the world and this company was quick to realize the demand that has skyrocketed, especially around the Covid-19 pandemic.

Patenting Pain Point

DeepIP, based in NYC and Paris, leverages trusted AI to empower IP attorneys, enabling them to produce higher-quality patent applications in half the time.

The DeepIP stated that the patent registration process is stuck in the past, relying on manual work and outdated methods. While legal tech has transformed other areas, patent applications are still drafted word by word. DeepIP is changing this by using AI to modernize the patent filing process.

The process is not only time-intensive but also financially burdensome, incurring lifetime costs ranging from $20,000 to $100,000. Moreover, the granting of a patent is protracted, potentially taking two to four years, with the United States Patent and Trademark Office currently facing a backlog of over one million pending applications.

This is not just it; a single error would lead to the patent being a non-defensible and therefore a useless one. This results in immense pressure on the attorney.

Founded by François-Xavier Leduc (CEO) and Edouard d’Archimbaud (CTO) in 2023, they have spent the last five years creating AI solutions for research-driven institutions like Airbus, IBM and SAP, mastering transforming data into reliable AI assistants.

Their AI assistant makes the entire process smooth and reliable and also the only AI patent assistant fully embedded in Microsoft Word, offering a seamless integration within attorneys’ workflow.

While AI applications can generate technical documents, specialized AI solutions are necessary to handle the formalities required in patent drafting for patent applications.

The organization’s AI tool has streamlined the patent application process, reducing drafting time by up to 50% and saving legal professionals around two hours per day. This increased efficiency has led to higher productivity, better talent retention, and improved patent quality. Additionally, the tool can analyze previous patent applications to match the specific writing style of individual practitioners and their clients.

Funding Boost

This French-US patent company has now secured a $15 million Series A funding, led by VC fund Resonance, with participation from Headline (Mistral AI) and Serena Capital (Dataiku), with Balderton also on the cap table.

According to Maxime Le Dantec from Resonance, “DeepIP is the fastest startup I’ve ever seen reach 7 figures in ARR in 7 months! To me, this is a clear testament to the massive productivity gains DeepIP is bringing to patent practitioners.”

The company said, they will use this fund to expand their operations both in the U.S. and Europe, while also evolving their current productivity assistant towards a more agentic approach and continuing to add even more impressive intelligence features.

Patents of Tomorrow

Over the last decade, law firms have increasingly embraced technology to assist with tasks like legal research, document review, and contract analysis. AI platforms like Harvey, which recently raised $300 million in funding and is valued at $3 billion, have disrupted the legal-tech space. DeepIP is now positioning itself to do the same in the world of intellectual property, aiming to unlock the same potential that AI has brought to other areas of law.