Deep Dive: How PatSnap joined the unicorn club

<p><span style="font-weight: 400;">Last month, innovation intelligence startup PatSnap</span><span style= "font-weight: 400;"> raised US$300 million from big-name backers like SoftBank Vision Fund II and Tencent Investment, which the Singapore-based firm says brings its valuation over US$1 billion.</span></p> <p><span style="font-weight: 400;">But PatSnap’s bid to join the unicorn club wasn’t an easy one. In its early days, potential backers weren’t convinced it could make money, making it hard for the startup to raise funds. To reduce living and hiring expenses, the team moved to China. But even there, they still had to keep costs down, so they switched off the heater to save on electricity and had to huddle together during the cold winter months. </span></p> <p><span style="font-weight: 400;">On this episode of <em>Deep Dive</em>, <em>Tech in Asia</em> journalist Tay Tian Wen talks about PatSnap’s arduous journey, the milestones it has achieved over the years, and what the future holds for one of Singapore’s newest unicorns.</span></p> <p>More information on today’s episode here: <a href= "https://www.techinasia.com/deep-dive-patsnap-joined-unicorn-club">https://www.techinasia.com/deep-dive-patsnap-joined-unicorn-club</a></p> <p><strong>Featured reporter:</strong></p> <ul> <li><a href="https://www.techinasia.com/profile/tian-wen-tay" target="_blank" rel="noopener"><span style="font-weight: 400;">Tay Tian Wen</span></a><span style="font-weight: 400;">, a</span> <em><span style="font-weight: 400;">Tech in Asia</span></em><span style="font-weight: 400;"> journalist based in Singapore</span></li> </ul> <p><strong>Essential reading:</strong></p> <ul> <li><span style="font-weight: 400;"><a href= "https://www.techinasia.com/patsnap-billion-dollar-company" target= "_blank" rel="noopener">How PatSnap grew to become a billion-dollar company</a></span></li> <li><a href= "https://www.techinasia.com/tokopedia-patsnap-among-8-fastest-revenue-growing-firms-southeast-asia" target="_blank" rel="noopener">Tokopedia, PatSnap amon