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November 22, 2023

AI21 Rockets to $1.4 Billion Valuation with $208 Million Series C Boost

AI21, has just pulled off a financial feat, wrapping up its Series C funding round with a dazzling $208M

The Israeli unicorn, AI21, is riding high on success after closing its Series C funding round with a staggering $208 million injection, propelling its valuation to a whopping $1.4 billion. This comes hot on the heels of a $155 million Series C round earlier this year. Notable new investors, Intel Capital and Comcast Ventures, have joined the fray, alongside existing backers, in a move set to turbocharge AI21's journey in the AI-centric business landscape.

Pioneering the democratization of generative AI since 2017, AI21, founded by luminaries Prof. Amnon Shashua, Prof. Yoav Shoham, and Ori Goshen, has been a trailblazer. Going beyond conventional models, AI21 builds AI systems that seamlessly integrate and deliver dependable, accurate results with unparalleled control. The company's flagship developer platform, AI21 Studio, empowers businesses to create their own AI-driven applications using the state-of-the-art Jurassic-2 language models.

AI21 Studio, with its API access, presents developers and businesses with cutting-edge natural language processing (NLP) solutions. Task-Specific Models within the platform are finely tuned to excel in distinct NLP capabilities, prioritizing accuracy and reliability. AI21's clientele includes industry leaders such as Carrefour, Clarivate, eBay, Guesty, Monday.com, and Ubisoft.

Anthony Lin, Corporate Vice President and Head of Intel Capital, stressed the importance of a multi-disciplinary approach for AI delivery, praising AI21's full-stack offering. Allison Goldberg, SVP and Managing Partner at Comcast Ventures, expressed confidence in AI21's ability to navigate the evolving Generative AI landscape. Co-CEO and Co-founder Ori Goshen emphasized AI21's commitment to purpose-driven AI, making it more efficient and cost-effective.

According to Prof. Yoav Shoham, Co-founder and Co-CEO of AI21, the future lies in AI Systems defining the next era in computing. By adopting a comprehensive systems approach, AI21 enriches Language Models (LLMs) with knowledge, reasoning, and statistical inference, creating a flexible architecture poised for the AI revolution.

With this fresh infusion of funds, AI21 is gearing up to showcase that when it comes to AI, one size indeed does not fit all, and a purpose-driven approach is the key to unlocking new possibilities in the AI landscape.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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