AI21 Labs Announces Series C Funding Round at $1.4 Billion Valuation
AI21 Labs has announced today (Thursday, August 31st) that it has successfully raised $155 million in Series-C funding. Investors include Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next and Prof. Amnon Shashua, with participation from Google and NVIDIA as well.
The new funding round brings the company’s raised capital to a total of $283 million at a valuation of $1.4 billion, further cementing AI21 Labs’ position as a leader among generative AI unicorns.
This announcement marks yet another major milestone in our journey to bring reliable generative AI to the enterprise, equipping businesses with useful and innovative natural language solutions based on our industry-leading LLMs and neurosymbolic systems.
“The current round will fuel the growth of the company to reach our goal of developing the next level of AI with reasoning capabilities across multiple domains,” said founder and Chairman Prof. Amnon Shashua. ”We believe that the impact of AI21 Labs’ growth plans will be felt on a global scale quite soon,” he added.
“We are grateful for this vote of confidence by current and new investors,” added co-CEOs Prof. Yoav Shoham and Ori Goshen. “AI21 Labs’ cutting edge technology, including leading large language models and neurosymbolic technology, provides the robustness, predictability and explainability required in the era of AI-first enterprises. We look forward to continuing this journey with our investors, partners and customers”.
“Generative AI is driving a new era of computing across every industry,” said Jensen Huang, founder and CEO of NVIDIA, which participated in the funding round. “The innovative work by the AI21 Labs team will help enterprises accelerate productivity and efficiency with generative AI-based systems that are accurate, trustworthy, and reliable.”