Friday, July 25, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

German AI translation start-up DeepL valued at $2 bn

Simon Osuji by Simon Osuji
May 22, 2024
in Artificial Intelligence
0
German AI translation start-up DeepL valued at $2 bn
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


translation
Credit: CC0 Public Domain

The German translation firm DeepL said Wednesday that it had attracted $300 million of investment in a deal valuing it at $2 billion, as interest surges in generative artificial intelligence tools.

Related posts

Harvard’s ultra-thin chip could revolutionize quantum computing

Harvard’s ultra-thin chip could revolutionize quantum computing

July 25, 2025
AI tackles notoriously complex equations, enabling faster advances in drug and material design

AI tackles notoriously complex equations, enabling faster advances in drug and material design

July 25, 2025

The funding round led by Index Ventures will support DeepL’s “mission to transform the way businesses around the world communicate with each other”, the Cologne-based company said in a statement.

The new valuation makes DeepL the biggest AI start-up in Germany, according to the Handelsblatt business daily.

DeepL is known for its AI-powered online translation service, which is available in 32 languages.

In addition to a free offering for short texts, DeepL also provides paid translation software for companies, and has garnered more than 100,000 paying customers.

Launched in 2017, DeepL was initially seen as a plucky rival to Google Translate but has risen to the challenge from giants such as OpenAI’s ChatGPT amid an explosion of generative AI.

“The investment comes in the most transformative year to date for DeepL, proving that our AI language technology plays a crucial role in overcoming the complex linguistic challenges faced by today’s global organizations,” founder and CEO Jaroslaw Kutylowski said in a statement.

ChatGPT burst onto the scene in 2022, wowing the world with its human-like capabilities—from digesting complex text or producing poems within seconds to passing medical exams.

Further examples of generative AI include DALL-E and Midjourney, which produce images, while others create sounds based on a simple input in everyday language.

© 2024 AFP

Citation:
German AI translation start-up DeepL valued at $2 bn (2024, May 22)
retrieved 22 May 2024
from https://techxplore.com/news/2024-05-german-ai-deepl-valued-bn.html

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.





Source link

Previous Post

Lockheed’s PAC-3 Missile Registers First Kill Using Aegis System

Next Post

Microsoft and G42 plan billion-dollar investment in Kenya’s digital development

Next Post
Microsoft and G42 plan billion-dollar investment in Kenya’s digital development

Microsoft and G42 plan billion-dollar investment in Kenya's digital development

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Did Tesla Remove Elon Musk’s Master Plan From Its Website?

Did Tesla Remove Elon Musk’s Master Plan From Its Website?

11 months ago
The Best Samsung Phones of 2024, Tested and Reviewed

The Best Samsung Phones of 2024, Tested and Reviewed

9 months ago
DP Gachagua Dismisses Aides Loyal to Ruto

DP Gachagua Dismisses Aides Loyal to Ruto

11 months ago
LINK May Break Through $32 This Month

LINK May Break Through $32 This Month

6 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • The world’s top 10 most valuable car brands in 2025

    0 shares
    Share 0 Tweet 0
  • Top 10 African countries with the highest GDP per capita in 2025

    0 shares
    Share 0 Tweet 0
  • Tanzania’s natural gas sector goes global with Dubai deal

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.