Israel-based AI startup AI21 Labs has successfully raised $155 million in a Series C funding round, which included participation from tech giants Google and Nvidia. This funding round brings AI21's total capital raised to $283 million, with a valuation of $1.4 billion. The company has gained significant attention and investment due to the growing interest in artificial intelligence (AI) technologies following the success of Microsoft-backed OpenAI's generative AI chatbot, ChatGPT.
AI21 Labs, founded in 2017, has established a strong customer base that spans from individual consumers to Fortune 100 companies. The company's innovative work in generative AI-based systems is expected to enhance productivity and efficiency for various enterprises. The participation of tech leaders like Google and Nvidia in the funding round signifies the continued interest and investment in AI startups that are contributing to the advancement of AI technology.
The funding will likely accelerate AI21 Labs' efforts to develop and deploy cutting-edge AI solutions, potentially leading to advancements in various industries and sectors that leverage AI-powered systems.