deepset Raises $14 Million in Series A  

by Kay Aloha Villamor in April 29th, 2022

deepset, a Berlin, Germany-based company behind the popular Haystack open-source framework for building NLP services, announced a $14 million Series A investment round led by GV.

Harpoon Ventures, System.One, Lunar Ventures and Acequia Capital also participated, alongside founders of leading ML and Open-Source companies, including Snorkel AI, Cockroach Labs, Cloudera, Deepmind, and Neo4j.

deepest will use this funding to build the company further and continue to develop Haystack and deepset Cloud.

The company also introduced deepset Cloud, an enterprise SaaS platform for building language-aware software. 

Company: deepset GmbH

Raised: $14.0M

Round: Series A

Funding Month: April 2022

Lead Investors: GV

Additional Investors: Harpoon Ventures, System.One, Lunar Ventures and Acequia Capital 

Company Website: https://www.deepset.ai/

Software Category: NLP services

About the Company:   Founded in 2018 by Milos Rusic, Malte Pietsch, and Timo Möller, deepset is the company behind the popular Haystack open-source framework for building NLP services. deepset builds a necessary layer for language awareness within the enterprise tech stack, enabling users to access and interact with data through language. Haystack is an open-source NLP framework that leverages Transformer models. It enables developers to implement production-ready neural search, question answering, semantic document search, and summarization for a wide range of applications. 

                        

Source: https://www.businesswire.com/news/home/20220428005187/en/deepset-Raises-14-Million-Series-A-Led-By-GV-for-Advanced-NLP-Platform

 

 





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