Aleph Alpha, a Germany-based AI startup that specializes in researching, developing, and implementing AI-based technologies for both public and private sectors, raised $500 million in Series B funding.
SaaS Investors
The consortium was led by the Innovation Park Artificial Intelligence (Ipai) and co-led by Schwarz Group, the owners of the Lidl supermarket chain, and Bosch Ventures. Other new investors include Berlin-based Christ&Company Consulting, Hewlett Packard Enterprise, SAP, and Burda Principal Investments.
Ipai is an AI hub based in the southwest German city of Heilbronn, building Europe's largest AI ecosystem and laying the foundation for tomorrow's society.
The Schwarz Group is a family-owned multinational retail group that operates grocery shops under the Lidl and Kaufland brands.
Founded in 2007, Bosch Ventures is the corporate venture capital arm of Robert Bosch based in Stuttgart-Weilimdorf, Germany. The firm invests in seed, early-, and late-stage Venture Capital rounds and participates in the follow-on investments in privately held companies. RBVC predominantly focuses its investment activities on Europe, North America, Israel, and China.
Aleph Alpha Use of Funds
With the funding, The company plans to expand its offerings while maintaining independence and flexibility for customers.
About Aleph Alpha
Founded in 2019, Aleph Alpha is an AI research and application company that researches, develops, and operationalizes large-scale AI models for language, image data, and strategy. The company offers AI solutions that prioritize customer sovereignty over the implementation of AI into their businesses and has a focus on areas like EU-regulated data protection and security. It deploys transformative AI like large language and multimodal models and runs the fastest European commercial AI cluster, supplying B2B and B2G solutions with explainable and trustworthy AI in a fully sovereign application.
Funding Details
Company: Aleph Alpha GmbH
Raised: $500.0M
Round: Series B
Funding Month: November 2023
Lead Investors: Innovation Park Artificial Intelligence (Ipai), Schwarz Group, and Bosch Ventures
Additional Investors: Christ&Company Consulting, Hewlett Packard Enterprise, SAP, and Burda Principal Investments
Company Website: https://aleph-alpha.com/
Software Category: Generalizable AI Technology Platform
Source: https://techcrunch.com/2023/11/06/lidl-owner-and-bosch-ventures-co-lead-500m-series-b-into-german-ai-start-up-aleph-alpha/