AI Startup Ankar Raises $20M to Cut Patent Approval Time from 24 Months Using Language Models

AI startup Ankar raises $20 million to revolutionize patent approval processes, using language models to slash approval times from 24 months while increasing productivity by 40% for clients like L'Oréal.

• Ankar, an AI startup founded by former Palantir employees, secures $20 million Series A funding led by Atomico to streamline patent filing and management processes
• The company uses large language models to search 150 million patent applications and 250 million scientific publications, helping reduce patent approval time from the current 24 months while boosting productivity by 40%
• Notable customers including L'Oréal and law firm Vorys are already using Ankar's platform as companies increasingly focus on protecting intellectual property in the AI era