The OpenAI of Israel Takes Shape
Generative AI startup AI21 Labs lands $155M at a $1.4B valuation
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:
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
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