AI21 Labs has raised $155 million from Samsung, Google and Nvidia

Israel-based AI21 Labs has raised $155m in Series C funding. The startup's total funding is $283 million at a valuation of $1.4bn.

Here's What We Know

The main investors were Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next and Amnon Shashua - founder of Mobileye and co-founder of AI21 Labs. Google and Nvidia also participated in the round.

AI21 Labs develops various text generation tools based on its proprietary artificial intelligence models. Among the company's products:

• AI21 Studio - a platform for developing custom text applications
• Wordtune - a multilingual reading and writing assistant

The startup plans to use the funding to accelerate research and develop the next level of AI capable of reasoning across multiple domains.

AI21 Labs is also looking to partner with more tech companies and grow its team, especially in the areas of research and business development.

Source: TechCrunch