AI21 Labs Raises $34.5m funding led by Pitango

– ISRAEL, Tel Aviv –  AI21 Labs today announced it has raised $34.5 million equity funding led by Pitango First, part of Pitango Venture Capital.

The funds will help to double-down on its AI technology and continue to build additional category-defining products in the race to build a leader in the AI language and writing category.

“We’re just getting started on our mission to create AI solutions that will help rethink how we read and write,” said co-founder, Yoav Shoham. “We’ve got the team and we’ve got the vision to play in an area traditionally dominated by the tech giants, coupling deep technical innovation with compelling product experiences.”

“AI21 Labs is a great company with an insanely strong team,” said Eyal Niv of Pitango. “They are focused on creating AI solutions that can be as transformative to human communication as the Gutenberg press. That’s a mission we want to support and play a role in.”

About AI21 Labs

AI21 Labs was formed by AI luminaries and veterans of the elite technology unit of Israel’s IDF, with the mission of building AI systems with an unprecedented capacity to understand and generate natural language. The company’s first product, Wordtune, is the first AI-based writing companion that understands context and meaning. The company is led by Yoav Shoham, Amnon Shashua, and Ori Goshen. The company is headquartered in Tel Aviv, Israel.

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