- Ruskin joined Coinbase at 14, contributing to foundational code, and later built fintech infrastructure at Checkr.
- Inventex uses specialized AI agents and attorneys to draft applications 10x faster, with $250K in annual recurring revenue.
- It received a $2.4M pre-seed round led by Conviction Capital, Fred Ehrsam, and Cambrian Ventures, targeting patent accessibility for innovators.
Daniel Ruskin, a 26-year-old entrepreneur with an impressive tech pedigree, has launched Inventex, a startup aiming to revolutionize the patent application process using AI.
Ruskin's journey in tech began at 14 when he started working as an engineer for Coinbase, contributing significantly to the platform's early growth.
After 4 years at Coinbase, Ruskin pursued higher education, including law school, while also founding several startups. His experience with the patent process for an election security company he founded led him to identify inefficiencies in the system, inspiring the creation of Inventex in December 2024.
Inventex leverages a combination of AI agents and licensed attorneys to streamline the patent application process.
The company claims to reduce the time required for patent-pending status from months to days, potentially accelerating the process tenfold.
Key features of Inventex's approach include:
- Automated intake of technical data from customers.
- AI-driven identification of patentable inventions.
- Prior art searches and differentiation analysis.
- Drafting and filing patent applications in the U.S. and abroad.
Within just one month of launch, Inventex secured $2.4 million in pre-seed funding at a $10 million valuation.
The round was co-led by Conviction Capital, Coinbase co-founder Fred Ehrsam, and Cambrian Ventures, with participation from Boost and other investors.
Despite its recent launch, Inventex has already generated significant interest. They have approximately $250,000 in annual recurring revenue pipeline and clients that include two publicly traded companies and numerous startups, with plans to offer a white-labeled drafting toolkit for law firms.
“We fine-tune models specifically to each technical area, and our agents are true experts in each technical field our customers work in,” he said.
Ruskin envisions a shift in the patent law field, predicting that within five years, the focus will move from drafting to strategy, making the patent system more accessible to innovators of all sizes.
Maksim Stepanenko, a former Coinbase colleague and current startup founder, praised Ruskin's abilities, describing him as "one of the most quietly impressive people" he's worked with.
Rex Salisbury of Cambrian Ventures highlighted Ruskin's remarkable track record, noting his contributions to building two unicorns (Coinbase and Checkr) before completing his education.
As Inventex continues to grow and refine its AI-driven approach to patent applications, it stands poised to potentially disrupt the traditional legal services industry and democratize access to intellectual property protection.
Edited by Annette George
