AI21 Labs, an OpenAI rival, raises USD 155M in funding

AI21 Labs, an OpenAI rival, raises USD 155M in funding

AI21 Labs Ltd., a startup specializing in generative artificial intelligence, has closed a massive USD 155 million Series C funding round to fuel the expansion of its large language model-based services.

The round attracted notable investors, such as Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, Google LLC, Nvidia Corporation, and Professor Amnon Shashua.

The funding round was completed just over a year ago, in July 2022, after AI21 Labs closed on a USD 64 million Series B round of financing. With the latest USD 283 million in funding, the company is now valued at USD 14 billion.

Natural language processing is a branch of artificial intelligence that is the focus of AI21 Labs, which is both a research facility and a business.

Read More: OpenAI rival AI21 Labs raises $155M in funding