The OpenAI of Israel Takes Shape

Generative AI startup AI21 Labs lands $155M at a $1.4B valuation

Hey Everyone,

I’m very bullish on Israeli startups and AI21 was already on my radar. But this is quite a considerable funding raise! LLMs really are the most profitable when theya re B2B and enterprise orientated.

Tel Aviv, Israel-based large language model (LLM) leader AI21 Labs confirmed that it has has closed $155 million in series C funding to accelerate the growth of its text-based generative AI services for enterprises.

AI21 could even be called a contender for the OpenAI of Europe debate.

With the latest round, AI21 has raised a total capital of $283 million at a valuation of $1.4 billion, the company said.

Who is in on the Series C

Sure you’d expect a Series C from such a serious LLM company to have a decent amount, but it’s also the names involved that’s impressive here:

The round’s investors include Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, and founder of (Intel-acquired) Mobileye Professor Amnon Shashua, with participation from Google and Nvidia.

Even Nvidia is involved:

Why Nvidia and not OpenAI is Generative AI's Symbolic Company

AI21 Labs came out of stealth in October 2020 and has had pretty good timing even since then.

Artificial intelligence startup AI21 Labs raises $155m in Series C