Aleph Alpha receives half a billion from investors
The German AI start-up Aleph Alpha has received a financial injection of more than half a billion US dollars (486 million euros). The financing round is led by venture capitalist Innovation Park Artificial Intelligence (IPAI), the Bosch Group and the retail and IT group Schwarz Group (Lidl, Kaufland). Aleph Alpha made the announcement on Monday at the Baden-Württemberg state representation in Berlin. Europe's largest software group SAP and the Berlin-based investor Christ&Company are also on board for the second round of financing.
Aleph Alpha develops large language models with artificial intelligence (AI) functions, similar to the Californian start-up OpenAI with ChatGPT. However, the Heidelberg-based company specializes in use cases for public administration and industry.
With the fresh money from investors, Aleph Alpha should be able to compete with OpenAI as well as large corporations such as Microsoft and Google. A significant proportion of the investment will be provided in the form of a capital commitment from IPAI, a project of the Dieter Schwarz Foundation, which aims to establish Europe's largest research center for artificial intelligence in Heilbronn.
Aleph Alpha is regarded as a German flagship start-up. Last spring, the company achieved a milestone on the road to correct, explainable and trustworthy artificial intelligence. An extension of the in-house language model Luminous is able to understand connections in information and factual correctness on the basis of verified facts. Luminous forms the technical backbone of the city of Heidelberg's citizen information system Lumi, for example.
"With this latest investment, we will further expand our capabilities and enable our partners to be at the forefront of this technological development," said Jonas Andrulis, CEO and founder of Aleph Alpha. In order to support customers, his company will continuously expand its offering. In sensitive areas of responsibility and in strategic environments where sovereignty plays a central role, Aleph Alpha "will continue to be the best option", Andrulis said. The company founder appealed to politicians not to overdo the upcoming regulation of AI. "We also need a few more field players, not just referees."
The investment from Innovation Park Artificial Intelligence, Bosch Group, and Schwarz Group will allow Aleph Alpha to enhance their software, utilizing artificial intelligence for competition against firms like OpenAI, Microsoft, and Google. With the expansion of their capabilities, Aleph Alpha's large language models, like their in-house Luminous, can continue to provide reliable and explainable AI solutions for industries and public administration.
Source: www.dpa.com
