Chekable Inc., a startup that’s using generative artificial intelligence to automate the patent application and search process, said today it has closed on an undisclosed investment from NEC X, the Silicon Valley accelerator of NEC Corp., after graduating from its Elev X! Ignite enterprise studio program.
The brand new investment is supposed to assist Chekable scale up its generative AI platform, which goals to transform the patent filing process by automating various facets involved in it.
The startup said its AI-powered tool is a first-of-its-kind offering that streamlines lots of probably the most time-consuming facets of patent applications, saving inventors as much as 70% of the time they’d normally devote to drafting related documents. Chekable is targeted at corporate in-house mental property teams, boutique patent law practices and multipractice legal firms.
The prevailing patent application process is one which’s notoriously complex, time-consuming and likewise siloed, leading to some serious inefficiencies. Indeed, the method can sometimes be so laboriously slow that it takes years to finish a single patent filing in some more complex cases. Though there are some tools that aim to automate the patent application process, the startup says there are none that cover your entire process.
Chekable is different. The startup says its vision is to construct a comprehensive platform for patent applications that streamlines your entire lifecycle. While adhering to local jurisdiction language requirements, Checkable’s platform can accurately and efficiently generate patent applications, search and monitor for possible patent infringements, check recent patents for similarities with existing patented inventions, and likewise match investors in need of guidance with specialized patent professionals.
The startup appears to have stumble on a fantastic application for generative AI, making the most of the technology’s ability to investigate large amounts of information immediately, said Holger Mueller of Constellation Research Inc.
“It’s a capability that’s especially applicable to patents, where inventors are required to perform an intensive seek for prior IP applications to make sure that their creations haven’t already been patented by another person,” the analyst said. “Traditionally, these searches have all the time been a manual process performed by humans, they usually may not all the time go as deep as they have to be.”
Mueller added that Chekable’s claim of with the ability to slash patent drafting times by as much as 70% will have to be verified in the actual world. But when it’s true, he said, it’s going to “revolutionize the patent industry.”
Chekable co-founder and Chief Executive Nipun Kumar said he has extensive personal experience of the monotony of the patent application process, having authored greater than 60 patents on behalf of Fortune 500 firms, including many for AI tools. He founded the startup alongside Ashutosh Chapagain, the startup’s chief AI officer, who’s an authority in natural language processing.
NEC X President and CEO Shintaro Matsumoto said Kumar and Chapagain have created an revolutionary approach to patent management that makes your entire process more efficient and accessible. “We expect impressive results from Chekable, because it continues to boost and scale its transformative platform worldwide,” he said.
Chekable joined NEC X’s Elev X! Ignite program within the fourth quarter of last 12 months, as a part of its cohort batch 10, where it received hands-on support, funding, mentorship and access to workshops. Through the program, NEC performed extensive tests of Chekable’s product to deliver beneficial feedback and produce it closer to market-readiness.
“Their guidance has enabled us to refine our technology and fast-track our entry into the market,” Kumar said.
Image: SiliconANGLE/Microsoft Designer
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