Machine translation startup DeepL has received a $300 million investment, bringing its valuation to $2 billion, a testament to the strong demand for AI among investors.
IT giant DeepL
Financial injection
DeepL company, which specializes in automated text translation using artificial intelligence, attracted investment funds in the amount of $300 million. The deal was led by European venture capital firm Index Ventures, underscoring the booming investor interest in AI startups. Such a financial injection made it possible to increase the estimated value of DeepL to $2 billion, which is twice the previous estimate.
Ambitious development plans
Currently, DeepL is not yet generating profit, but the investment received will be aimed at increasing sales and marketing efforts, as well as at further research and development activities. According to the company's founder Yaroslav Kutilovskyi, although more than 100,000 enterprises already use their tools, this is only a small part of the target market. Therefore, DeepL aims to expand the circle of its customers.
Transformation into a corporate direction
Yaroslav Kutilovsky noted that until now the company had grown organically , but now they plan to intensify marketing activities and strengthen relations with customers. He also reported that DeepL is gradually transforming into a corporate direction, which is a difficult but interesting challenge for a research company. Currently, their platform supports about 32 different languages, including Ukrainian.
Glossary
- DeepL is a company that develops machine translation technology based on artificial intelligence.
- Index Ventures is a leading European venture capital company.
- Yaroslav Kutilovsky - founder and CEO of DeepL.
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Discussion of the topic – DeepL raised $300 million - the company's valuation increased to $2 billion
Artificial intelligence translation startup DeepL has raised $300 million in investment led by European venture capital firm Index Ventures. This underscores the frenzied interest of investors in AI startups. Now, the Google Translate and Grammarly competitor's valuation has doubled to $2 billion.
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Маріо
Great to see DeepL grow like this! I've been using their services for several years now and I really notice a constant improvement in the quality of translations. Glad to see that they are modernizing and looking to expand their market presence 💪
Наташа
That's pretty impressive funding for a translation startup. $2 billion is quite a good estimate for a company with 32 supported languages, including Ukrainian! A good sign that they will put resources into improving the product 🚀
Ніколас
And here is another example of how AI is gradually taking over the world. Many industries are currently undergoing a real revolution thanks to such technological giants as DeepL. I wonder if this startup will start offering new functions besides translation? 🤔
Ганна
Not very happy about this news 😒 DeepL is good at implementing AI, but their service is still not perfect. Even with such funding, they have to be careful about personalization and ensure quality translation into different languages, including Ukrainian.
Вольфганг
In my opinion, the price of $2 billion is overstated 💸. DeepL is just a valuable startup, but that doesn't mean they can collapse. As a former professional translator, I know that machine translation has not yet reached the level of perfection to completely replace human labor.
Наташа
@Wolfgang I understand your doubts, but you have to take into account the fact that DeepL is constantly being updated and improved. I myself worked as a translator and I can testify that their latest efforts in Ukrainian translation turned out to be very effective 👍
Олександр
In my opinion, this is cool! I use DeepL in my work and they surprise me every time with the quality of their translations. Looking forward to new features and updates! 💻✨
Антуан
I admire this company and how they strive every day to facilitate communication between people 🙌 Their ability to translate into different languages, including Ukrainian, is simply incredible. I have great hope that the new funding will help them get closer to the goal of making translation even more effective 🌍