AI21 Labs is a startup that is at the forefront of creating cutting-edge algorithms that excel in the field of generative AI. By training its algorithms on vast amounts of text data, AI21 Labs has developed models that can generate human-like stories, poetry, and even dialogue. These AI-generated pieces have garnered attention for their fluency and imagination, blurring the lines between human creativity and AI capabilities.
AI21 Labs has raised $155 million in a Series C from investors Google and Nvidia. The new round has brought the company’s valuation to $1.4 billion. Other investors include Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, and Professor Amnon Shashua. AI21 intends to use the fresh funding to grow its text-based generative AI services for enterprises.
AI21 Labs, Tel Aviv, Israel, was founded in 2017 by Yoav Shoham, Ori Goshen, and Amnon Shashua. “AI21 Labs came out of stealth in October 2020 with our first launch of [AI writing tool] Wordtune,” said Yoav Shoham, one of AI21 Labs’ co-CEOs. “Since then, we’ve only managed to grow, more than doubling our workforce with plans to add even more employees.”