DeepL to elevate AI research with new investment

DeepL, News

11th January 2023

We are happy to announce that Atomico, Bessemer Venture Partners, IVP and World Innovation Lab have joined forces in the latest funding round of our portfolio company DeepL, an extraordinary organization that has built an incredible tool for all of humanity to break down language barriers with AI. 

“DeepL has been changing the way people translate and, therefore, work internationally. Now, with additional support, we’re excited to continue investing in AI translation technology, but with a wider focus on communications in general,” said Jarek Kutylowski, CEO and founder of DeepL. “Recent advances in AI have greatly impacted how we communicate, especially in areas like business and education. Our goal is to use AI to make global communication as effortless as possible. To achieve this, we plan to expand our product offerings.” 

To stay at the forefront of AI technology, DeepL continuously invests in research to advance its powerful neural networks. These networks are trained by DeepL’s team of mathematicians and engineers to detect linguistic subtleties and nuances that eclipse other AI translation competitors. The company’s unique technology grasps even industry-specific terminology.

As a result of the latest financing round, DeepL can focus not only on advancing its industry-leading technology, but also on making the benefits of AI communication more widely accessible—enabling both individuals and organizations of all sizes to use AI technology to improve their internal and external communication.

btov founding Partner Florian Schweitzer: “Congratulations to Jaroslaw and the entire DeepL team. We have been with you from the earliest stages and are excited for the next chapter in DeepL’s journey, as it moves beyond AI-powered translation to broader possibilities with AI and communication.”

Read more in Techcrunch here

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