The investment, led by San Francisco-based Index Ventures, values the startup at US$2 billion. Teachers’ Venture Growth—the venture capital arm of Ontario Teachers’ Pension Plan—invested along with Iconiq Growth, and existing DeepL investors IVP, Atomico and World Innovation Lab. (The Logic)
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The investment, led by San Francisco-based Index Ventures, values the startup at US$2 billion. Teachers’ Venture Growth—the venture capital arm of Ontario Teachers’ Pension Plan—invested along with Iconiq Growth, and existing DeepL investors IVP, Atomico and World Innovation Lab. (The Logic)
Talking point: The megadeal suggests investors believe the startup’s AI-powered translation service can compete with Google Translate. It also highlights investors’ growing appetite for generative AI companies with specific business applications. “We’re approaching an inflection point in the AI boom where businesses … begin to discern between hype versus solutions that are secure and actually solve real problems,” DeepL founder and CEO Jarek Kutylowski said in a press release. Kutylowski said the funding will help the company expand in the U.S., Asia and Latin America, and strengthen its commercial and research divisions.
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