Israeli AI startup AI21 Labs has completed a $300 million Series D funding round with the backing of tech giants Google and Nvidia.
This latest investment brings AI21 Labs’ total funding to $636 million, highlighting the growing interest in companies developing proprietary large language models (LLMs).
AI21 Labs Completes $300M Series D Round
Founded in 2017 by Amnon Shashua, Yoav Shoham, and Ori Goshen, AI21 Labs aims to establish itself as a leader in the AI space.
Unlike many other AI startups, the company develops its own LLMs, focusing on delivering more reliable AI solutions. In March, AI21 Labs launched a new orchestration system called Maestro, which reportedly reduces hallucination rates by 50% and boosts reasoning accuracy to over 95%.
Previous investors in AI21 Labs include prominent names such as Intel Capital, Pitango, and Samsung Next. The company’s client roster includes well-known brands like Fnac, Capgemini, and Wix.
The funding comes amid a surge in global investment in AI startups. Last month alone, $7 billion was directed toward AI firms, representing 30% of global venture funding.
In Israel, tech companies attracted over $12 billion in investments in 2024, a 31% increase compared to the previous year.
The significant investment in AI21 Labs underscores the intensifying competition in the AI sector.
Established tech players like Google and Nvidia are investing heavily in innovative startups to strengthen their presence in the rapidly evolving landscape of generative AI technology.
Kaynak: https://www.techinasia.com/news/google-nvidia-back-israeli-ai-firms-300m-series-d
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