After a five year drought, the company with software to help inventors invent has raised $10 million in a third round of venture capital funding.
Invention Machine's (IMC) knowledge-based software tools have been used as the basis of more than 5 million patents. Valery Tsourikov, the firm?s chief scientist and founder, said that the offerings resulted from his studies in the former Soviet Union under a Russian scholar, Genrich Altshuller.
Altshuller believed that invention is not a random process, but can be based on a defined and codified algorithm.
Tsourikov arrived in the US in 1991 with a translated English version of his software, but spent another five years raising a first round of financing.
"What the software does is allow an engineer to take a step back and attack a problem from a different angle. It's a problem-solving tool that helps an engineer consider a wide range of different strategies with anything from potato chips to microchips," said Lou Gryga, IMC's vice president.
Invention Machine Lab takes an engineering problem and presents users with a list of possible ways to solve it. The product offers 200 inventive principles linked to thousands of examples and 1,350 physical, geometrical and science-engineering effects, which are stored in its physics database or "knowledgebase".
The software comprises seven modules: Product Analysis, Process Analysis, Feature Transfer, Effects, Principles, Prediction and Internet Assistant with Patent Analyzer. These enable users to state and solve their engineering problems, generate concepts and share knowledge across the enterprise.
Existing customers include Motorola, the Ford Motor Company and Proctor & Gamble and Invention Machines employs 100 people at its Boston headquarters. It has 150 other staff in offices in Germany, Sweden, the UK, France, Venezuela and Japan.
Freshly launched 11nm Qualcomm silicon will come with Adreno 612 GPU
Are pinning down the exact rate of expansion of the Hubble constant
RISC OS 5 to form the basis of RISC OS Open after Castle Technology sells to RISC OS Developments
A smartphone maker fiddling its benchmarking scores? That's unusual, isn't it?