Monday, March 4, 2024
HomeFunding German Generative AI company Aleph Alpha Secures more than $500 billion...

[Funding alert] German Generative AI company Aleph Alpha Secures more than $500 billion in Series B Round Funding

German Generative AI company Aleph Alpha secures more than half a billion US Dollars in series B round funding. The company raised more than 500 million US Dollars from a consortium of a total of seven new investors as well as existing investors from previous rounds.

German Generative AI company Aleph Alpha secures more than half a billion US Dollars in series B round funding. The company raised more than 500 million US Dollars from a consortium of a total of seven new investors as well as existing investors from previous rounds.

The consortium is led by the Innovation Park Artificial Intelligence (Ipai), Bosch Ventures and the companies of Schwarz Group. Other new investors include Berlin-based Christ&Company Consulting.

Read also – Latvia-based SpirulinaNord Secures €600K in Funding

The global edge-to-cloud company Hewlett Packard Enterprise and German multinational enterprise application software company SAP, as well as Burda Principal Investments. Existing institutional investors participate in addition, completing the oversubscribed round.

Each party involved in this round plays a vital role in helping Aleph Alpha achieve its goal of providing sovereign AI solutions to enterprises and governments. The total funding exceeds half a billion US dollars, encompassing a substantial investment in applied research by Ipai, as well as commitments for joint business development.

Read also – Lithuania-based Green Energy Company Green Genius Secures €6.9M in Funding

This commitment strengthens the foundation for Aleph Alpha to further advance its proprietary AI research, accelerate development and commercialization of Generative AI for the most complex and critical applications such as in data sensitive industries like healthcare, finance, law, government and security.

Aleph Alpha will further expand key academic partnerships and contributions, and remains committed to reproducibility, excellence and sharing innovation through open source.

Jonas Andrulis, CEO and founder of Aleph Alpha said,“With this latest investment, we will continue to enhance our capabilities and enable our partners to be at the forefront of this technological development. To empower customers, Aleph Alpha will continue to expand its offerings while maintaining independence and flexibility for customers in infrastructure, cloud compatibility, on-premise support and hybrid setups. The ongoing developments will extend interfaces and customization options tailored to business-critical requirements. For customers with a significant responsibility and in strategic environments where sovereignty is at risk, we will remain the best option.”

The significant enhancement of the capabilities of Large Language Models by a European company gives government agencies as well as companies the opportunity to build and apply AI in a sovereign environment, as Aleph Alpha combines data protection and security with unique explainability and customization options.

Read also – Chasse sur Rhône-based Recyc’ELIT Raises €3.2M in Funding

Rolf Schumann, Co-CEO of Schwarz Digits said,“Aleph Alpha will shape the future of Generative AI and set new standards for this key technology. As such, Aleph Alpha is a perfect fit with our sovereign Cloud and Cyber Security offerings STACKIT and XM Cyber. This technology will enable us to further optimize our digital services – both for the companies of Schwarz Group and our external customers,”

About Alepha Alpha

Aleph Alpha was founded in 2019 with the mission to research and build the foundational technology for an era of strong AI. Aleph Alpha, the leading company in explainable and trustworthy generative AI applications, has raised capital and forged key strategic partnerships in a series B financing round to launch the next stage of its development in the global AI race.

The consortium consisting of seven new investors is led by the Innovation Park Artificial Intelligence (Ipai), Bosch Ventures and Schwarz Group.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular