Teqmine completes a €500k seed investment round

Teqmine, a Helsinki, Finland-based startup providing automation solutions for technology and patent information processing, announced closing a €500k ($540k) seed investment round.

The funding consists of an equity investment by Swedish investor Teqventures Scandinavia AB and finance solutions offered by Tekes – The Finnish Funding Agency for Innovation.

Teqmine Analytics Oy, founded in 2013 by Hannes Toivanen (CEO) and Arho Suominen, is an artificial intelligence startup that provides automated and AI assisted Software-as-a-Service solutions for invention, technology and patent intelligence and decision making.

Hannes Toivanen, CEO of Teqmine Analytics Oy:

“Patents pose one of the fastest growing business risks that companies must address and traditional patent attorney approaches can not deal with the massive inflow of new patents. Annually, about 3 million new patents are filed globally, and sophisticated machine-learning analysis of this data is what Teqmine offers.”