Investors cannot get enough of the alternative ways to make use of generative AI.
Language translation and launch Deep L has turn out to be the latest startup using generative AI to lift large sums, raising $300 million at a post-money valuation of $2 billion in a round led by Index ventures.
The valuation is roughly double its previous valuation in January 2023 of over $1 billion.
The round was attended by, among others: ICONIQ development, The development of teachers’ enterprise, IVP, Atomic AND WiL (World Innovation Laboratory).
The German startup language AI platform offers writing, editing and translation services for 63 markets and 32 languages for business applications. The company said it has already signed up greater than 100,000 customers, which include enterprises, governments and other organizations.
“This new investment comes in what is expected to be the most transformational year in DeepL’s history and is a testament to the critical role our Language AI platform plays in solving the complex language challenges global companies face today,” Founder and CEO Jarek Kutylowski – wrote in the statement.
More money
Just like on Tuesdaygreater than one big round of generative AI was announced on Wednesday.
Start the music sun raised a $125 million round led by Partners of the Lightspeed enterprise, Nat Friedman, Daniel Gross, Matrix AND Founder of the Collective.
The Cambridge, Massachusetts-based startup allows users to create songs based on easy text prompts, generating voice, lyrics and music.
IN announcing as a part of the deal, the company stated that 10 million people have already created music using Suno, despite the fact that the company released its first product only eight months ago.
“We will use these funds to accelerate product development and expand our team of creators, music lovers and music technologists” – co-founder and CEO Mikey Shulman it was written in the statement. “Our community of musicians deserves the best tools, and building the best tools requires the best talent – not just technological knowledge, but a true love of music.”