AI21 Labs, a Tel Aviv, Israel-based leader in AI and large language models (LLMs), closed a $155m Series C funding, at a valuation of $1.4 billion.
Investors included Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next and Prof. Amnon Shashua with participation from Google and NVIDIA. The new funding brings total capital raised to date to $283m.
The company intends to use the funds to accelerate the growth of its text-based generative AI services for enterprises.
Founded in 2017 by Prof. Amnon Shasuha, Prof. Yoav Shoham, and Ori Goshen, AI21 Labs is a leader in generative AI and Large Language Models, to empower businesses with LLMs and AI consumer applications and enterprise solutions. With the developer platform AI21 Studio, businesses can build their own generative AI-driven applications and services with the most advanced family of language models, Jurassic-2. AI21 Labs’ consumer product, Wordtune, is an AI-based reading and writing assistant that understands context and meaning, enabling its millions of users to refine and generate text or read and summarize text within seconds.
AI21 Labs has built a loyal customer base including Carrefour, Clarivate, eBay, Guesty, Monday.com and Ubisoft, among others.
FinSMEs
30/08/2023