Beanstalk

Xinova, spun out of Intellectual Ventures in 2016, shutters after failed fundraising and restructuring

Xinova, a Seattle-based invention-network company spun out of Intellectual Ventures in 2016, is winding down after failing to raise additional capital and unable to restructure legacy liabilities. The firm raised $48 million in Series A funding, grew a 12,000-inventor network, employed 100+ people at its peak, and has cut staff to two employees assisting the shutdown.