Cypris, a New York-based research platform for R&D teams, announced a $4 million Series A funding round led by York IE, with notable institutional co-investors, Activate VP, K20 Fund, and BlueTree Capital.
This funding will enable Cypris to further its mission of helping R&D teams track and analyze global innovation through a single comprehensive platform.
The funds will be used to invest deeper into their AI applications to decrease ‘time to insights’ for users and create new opportunities for innovation discovery through the platform.
“There are more platform innovations being introduced to markets today than at any point in history, across a wide spectrum of verticals,” said Steve Hafif, founder and CEO, of Cypris. “Innovations in AI, blockchain, genomics, and GPT, all have the power to drastically alter the evolution of even the most specialized markets. The responsibility of tracking these potentially disruptive technological breakthroughs, in many cases, is falling to R&D leaders. Without the proper tools, they’re flying blind.”
Launched in 2021, the Cypris platform allows users to gain unique insights on technologies and companies from 500M+ live data points from sources like global patents, research papers, market news, and more.
Through the platform, users can run queries on virtually any keyword, competitor name, or forward-looking concept and receive an automated and interactive report built on the historical and current status of innovation in the field or company.
The platform has also proven to be beneficial for professionals in M&A, business development, finance, and venture capital, as an effective tool for conducting advanced technical inquiries.
Company: IP Web Inc.
Round: Series A
Funding Month: January 2023
Lead Investors: York IE
Additional Investors: Activate VP, K20 Fund & BlueTree Capital
Company Website: https://ipcypris.com/
Software Category: Market Intelligence Software
About the Company: Cypris is a market intelligence platform built for research and development and innovation teams. The Cypris platform, designed to serve as a single ecosystem for global innovation data, enables users to gain unique insights from 500 million or more global data points in order to answer key questions about their market, competitors, core technologies, and more in order to support new product development, commercial strategy, and accelerate global innovation. Cypris is on a mission to accelerate global R&D by making innovation accessible and actionable for all.