Exclusive: Clairvolex Raises INR 16 Cr Debt From IndusAge Fund & JF Mauritius SPV

Intellectual property (IP) solutions company Clairvolex has raised INR 16.68 Cr in debt from IndusAge Global Technology Venture Fund & JF Mauritius SPV (special purpose vehicle). 

According to filings with the Ministry of Corporate Affairs (MCA) and accessed by Inc42, the company issued 9,31,909 Series B2 Compulsorily Convertible Debentures (CCD) at a nominal amount of INR 10 per debenture and a premium of INR 160.96 per debenture, to IndusAge Global Tech Fund, aggregating to a total amount of INR 15 Cr. Clairvolex also issued 1,04,804 Series B2 CCDs to JF Mauritius SPV, aggregating to a total amount of INR 1,68,75,000. In all, the company has raised INR 16,68,75,000. 

The IndusAge Global Technology Venture Fund is managed by IndusAge Partners, a Silicon Valley-based venture capital firm. IndusAge was one of the investors in the company’s Series B round last year.

The Silicon Valley-headquartered company raised its Series B round of funding, worth $3.5 Mn in June last year. The round was led by California-based venture capital firm, Walden Riverwood Capital. The company had said that the funds raised would be used to deepen the market reach of the company’s Artificial Intelligence (AI) – powered IP solutions platform LEAP, and expanding the company’s international sales and marketing footprint, specifically in the US and Europe.

LEAP is an artificial intelligence (AI) and machine learning-enabled patent portfolio development platform. With extensive data at its backend, LEAP claims to offer enhanced patent development and monetisation capabilities, helping companies build patent portfolio strategies with potential for higher monetization at half the current level of investments. 

Founded in 2006 by Manoj Pillai, Clairvolex claims to offer a systematic, proven approach to the development and monetisation of patent portfolios, helping companies both large and small make the most of their IP. Clairvolex counts companies such as General Electric, Ericsson, Philips, Amazon and Qualcomm, among its clients.