AI21 Labs, a Tel Aviv, Israel-based AI system for enterprise, completed $208 million in Series C, bringing its total raised to $336 million to date, achieving a valuation of $1.4 billion.
The oversubscribed round included participation from investors such as Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, and Professor Amnon Shashua, founder of Mobileye (acquired by Intel), along with contributions from Google and Nvidia.
AI21 Labs Use of Funds
The new funding will support AI21's focus on developing purpose-built enterprise generative AI solutions.
About AI21 Labs
Founded in 2017 by Prof. Yoav Shoham, Ori Goshen, and Prof. Amnon Shashua, AI21 Labs is an AI lab & product company whose mission is to reimagine the way we read and write by making the machine a thought partner to humans. It developed a software platform where developers can build text-based applications like recommendation engines, chatbots, and virtual assistants. With the developer platform AI21 Studio, businesses can build their own generative AI-driven applications and services with the advanced family of language models, Jurassic-2. AI21's consumer product, Wordtune, is the first AI-based reading and writing assistant to understand context and meaning, enabling its users to refine and generate text or read and summarize text within seconds.
Company: AI21 Labs Ltd.
Round: Series C
Funding Month: November 2023
Additional Investors: Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, Professor Amnon Shashua
Company Website: https://www.ai21.com/
Software Category: AI Writing and Reading Assistant