DeepL estimates its worth at $2 billion.
DeepL, a Cologne-based startup known for its translation program, has concluded another successful funding round. This event impacts their company valuation.
Cologne's startup DeepL has raised 300 million dollars in new investments, elevating its valuation to around two billion dollars, as per their announcements. Index Ventures was among the investors that participated in the round.
DeepL's founder and CEO Jarek Kutylowski mentioned that the company is aiming for more growth. This year, DeepL opened its first branch in Texas with plans to target the US market. In a previous financing round, the company's valuation had exceeded one billion euros.
The company recently revealed that it is extending its offerings by introducing a writing assistant with artificial intelligence. This isn't your typical generative AI tool or grammar check. DeepL's new product, known as DeepL Write Pro, offers real-time optimization suggestions for word choice, wording, style, and tone to enhance the creative writing process. It caters to users' needs regardless of their language skills, helping them find the perfect words for any circumstance and audience.
DeepL Write Pro is the first of their products based on their own large AI language model (Large Language Model or LLM). LLMs are intricate machine learning models that learn to comprehend and generate human language. Well-known LLMs include GPT from OpenAI, Gemini from Google, and Llama from the Facebook group Meta.
This AI-powered writing assistant is predominantly catered towards business users, aiming to support work teams within companies when composing professional content. Through DeepL Write Pro, companies can maintain professional and secure communication on a global scale - from internal documents to external customer communications and contracts.
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Investors, recognizing DeepL's potential in artificial intelligence, significantly contributed to the startup's recent funding round. This infusion of 300 million dollars has boosted DeepL's valuation to an impressive $2 billion, making it an attractive option for start-ups in the AI industry.
Source: www.ntv.de
