Israel’s AI21 Labs, a natural language processing (NLP) startup, as been valued at $1.4 billion after raising $155 million in its latest funding round backed by tech giants that include Alphabet’s Google and Nvidia.
The Series C financing round was led by the San Francisco-based venture capital firm Walden Catalyst, Israeli VC Pitango, Thailand’s SCB10X, European venture firm b2venture, Samsung Next, and AI21’s co-founder Prof. Amnon Shashua, who is also the co-founder of Mobileye (an Intel company).
The current investment values AI21 at $1.4 billion and makes the Tel Aviv-based startup a new Israeli unicorn — a company valued at $1 billion and over — and comes a year after the creator of AI generative text models raised $64 million at a valuation of $664 million.
AI21, which has a vision to bring generative AI to the masses, said it will use the funds to fuel R&D and expand the reach of its AI natural language models to more businesses and developers. To date, the startup has raised a total of $283 million from investors, it said.