AI Startup AI21 Labs got Funding at $1.4B valuation

AI Startup AI21 Labs got Funding at $1.4B valuation

A company called AI21 Labs from Tel Aviv, which famous for text-generating AI tools, just got a huge amount of money – $155 million!

Some important people and companies invested in it, like Google, Nvidia and Samsung. This big pile of money now says that AI21 Labs is worth $1.4 billion.

AI21 Labs started in 2017 and came out of hiding in 2020 with a tool called Wordtune, which helps people write better. Since then, they’ve grown a lot and plan to hire even more people.

They have a main product called AI21 Studio, which helps computer programmers make apps that can write text. It’s like a toolbox for writing computer programs with words.

They also have Wordtune, a multilingual reading and writing AI assistant similar to Grammarly. AI21 Labs’ platform can be accessed via APIs for various generative AI tasks, such as summarization, paraphrasing, and grammar and spelling correction.

The recent funding will fuel AI21 Labs’ R&D efforts to advance AI capabilities and expand partnerships across the tech industry.

With over 10 million Wordtune users and a focus on research and business development roles, they are poised for growth.

In conclusion, AI21 Labs is making waves in the AI industry with its innovative text-generation solutions, backed by substantial funding and ambitious plans for growth and partnerships.

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