On July 12, 2022, A USD 64 million series B investment round for AI21 Labs, an Israeli firm that wants to alter how people read and write radically, was completed, raising the company’s valuation to USD 664 million.
Existing investors Prof. Amnon Shashua, Walden Catalyst, Pitango, TPY Capital, and Mark Leslie joined Ahren in leading the round. The company has now raised USD 118 million due to this round. The money will go toward R&D expenditures and hiring new marketing and sales personnel. Ahren will join the advisory board of AI21 Labs as a founding member.
What the founder has to say:
Ori Goshen, co-founder, and co-CEO:
The fact that we closed this round amid market turbulence shows our investors’ confidence in AI21’s plan to transform how people create and consume information. The money will enable us to quicken the company’s international expansion while maintaining our commitment to advancing natural language processing technologies. We are eager to expand both our staff and our offerings.
What the investors have to say:
Ahren’s founder and general partner, Alice Newcombe-Ellis:
NLP has reached a crucial turning point, and AI21 has created distinctive solutions and infrastructure to serve a sizable and quickly expanding market successfully. We believe that this team, in charge of a unique business in a revolutionary market, is of the most remarkable caliber, technically and commercially.
More about the company:
Making the computer a human’s intellectual partner, AI21 Labs is an artificial intelligence firm aiming to redefine how we read and write. Modern language models created by the company are accessible to the public through AI21 Studio. The first AI-based writing companion that comprehends context and meaning is Wordtune, the flagship product of AI21. AI pioneers- Ori Goshen, Yoav Shoham, and Amnon Shashua created the business in 2017.
AI21 Labs, a company specializing in Natural Language Processing (NLP), has created AI21 Studio. On this NLP-as-a-Service developer platform, programmers may buy cutting-edge pre-trained and bespoke language models to create text-based apps. Jurassic-X, an advanced natural language processing system that can tackle jobs beyond the capabilities of neural models alone, is another product offered by AI21 Studio.
The business has released several products, such as Wordtune, a browser extension with millions of active users that Google selected as one of its favorite extensions for 2021, and Wordtune Read, which analyzes and summarizes documents in just a few seconds and enables users to read lengthy and complex text quickly and effectively.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback, and thank you for stopping by!
Next Article
