Harvard Law to AI: MarqVision lands $48M to combat brand abuse

Core Insights - The article discusses the journey of Mark Lee, who transitioned from law to entrepreneurship after discovering the scale of counterfeiting, an industry worth over $3 trillion annually, which constitutes about 8% of global commerce [1][3]. Company Overview - MarqVision, co-founded in 2021, aims to combat counterfeiting and trademark infringement using AI-powered computer vision technology [3]. - The company has raised a total of approximately $90 million, with a recent Series B funding round of $48 million [4]. Funding and Growth Strategy - Half of the new capital will be allocated to expanding AI and engineering teams to enhance automation and integrate generative AI into its products [5]. - $10 million is designated for making the platform enterprise-ready to target larger brands, while another $10 million will support regional expansion into markets like Japan [5]. Market Context - The counterfeiting market has seen a growth rate of 20% annually during the COVID pandemic, driven by online marketplaces and social media [3]. - MarqVision is already operational in the U.S., Korea, China, and Europe, and is now entering Japan, reflecting the global nature of intellectual property law [5]. Investors - The latest financing round was led by Peak XV Partners, with participation from notable investors including Salesforce Ventures and Y Combinator [6].