Gurgaon-based intellectual property asset management firm Clairvolex has received Series A funding from venture capital firm Indus Age Partners. This is the first overseas funding in a pure play IP asset management firm based out of India. The funding amount was not disclosed. Anaqua Inc, a Boston based intellectual asset management software company, also participated in the round.
Clairvolex will use the funds for product development, expansion of its US and Europe operations and for scaling up its Indian operations.
Clairvolex is promoted by LexOrbis, led by a patent lawyer Manoj Pillai and Agnus, a private investment arm of pharma company Strides Arcolab promoter Arun Kumar.
“We are a pure play IP asset management firm and have some of the top US and Europe corporations as our clients,” said Pillai. Currently, the seven year old company does not have any clients from India, but has a 400-seater back office facility in Gurgaon. “Indian companies need to focus much more on innovations, or else, we will not be able to transform into an IP-driven economy,” he added. At present, India is filing only one-tenth of the patents filed by China, which illustrates the big gap that the country needs to bridge.
Clairvolex received its seed funding in 2007 from LexOrbis, an intellectual property law firm based in New Delhi aand received its angel funding from Singapore based investors in 2011. Founded in 2007 by Pillai, Clairvolex helps companies in filing, managing and monetising patents. Clairvolex has also announced a partnership with Anaqua, a provider of intellectual property management software. Following this tie up, both companies will jointly offer IP asset management solutions. Clairvolex clients include telecommunication and technology companies in the US and Europe.