AI21 Labs, a leading AI company founded by Prof. Amnon Shashua, Prof. Yoav Shoham, and Ori Goshen, has successfully raised $155 million in its Series C funding round. This funding has valued the company at a remarkable $1.4 billion. The investment will be focused on accelerating the growth of AI21 Labs and further developing their next-level AI technologies.
AI21 Labs specializes in creating advanced language models specifically for developers seeking to build AI-powered products on a large scale. These language models are designed to be sophisticated, enabling developers to unlock the full potential of AI in their projects.
This funding round is particularly significant, considering the challenging economic climate caused by the global pandemic. Despite the decrease in startup funding worldwide, AI21 Labs has managed to secure the second-largest fundraise by an Israeli company this year. In fact, the total capital raised by the company now stands at an impressive $283 million.
Joining the unicorn club of the generative AI sector, AI21 Labs has attracted investments from prominent companies such as Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, Google, and NVIDIA. This demonstrates the trust and confidence of industry leaders in the potential of AI21 Labs and its vision.
Prof. Amnon Shashua, the founder of AI21 Labs, expressed his excitement about the latest funding round, stating, The current round will fuel the growth of the company to reach our goal of developing the next level of AI with reasoning capabilities across multiple domains. We believe that the impact of AI21 Labs’ growth plans will be felt on a global scale quite soon.
The co-CEOs of AI21 Labs, Prof. Yoav Shoham and Ori Goshen, also expressed gratitude for the support from both existing and new investors. They emphasized that the cutting-edge technology offered by AI21 Labs, especially their large language models and neurosymbolic technology, provides the robustness, predictability, and explainability required to thrive in today’s AI-first enterprise era. They look forward to continuing their successful journey with their investors, partners, and customers.
In addition to the investments received, AI21 Labs has garnered praise from industry leaders. Jensen Huang, the founder and CEO of NVIDIA, commended the innovative work of the AI21 Labs team. He highlighted how their AI-based systems will help enterprises increase productivity and efficiency, emphasizing their accuracy, reliability, and trustworthiness.
The funding secured by AI21 Labs is not only a testament to the company’s potential but also a significant milestone for the AI industry as a whole. With their commitment to pushing the boundaries and developing advanced AI models, AI21 Labs is poised to make a lasting impact on a global scale.
