The data used to train Aleph Alpha’s models is stored in Europe and includes a large repository of multilingual public documents published by the European Parliament.
German startup Aleph Alpha on Monday announced that it has raised $500 million in a Series B funding round backed by Bosch Ventures, SAP, Hewlett Packard Enterprise, Innovation Park Artificial Intelligence (IPAI) and others. The Heidelberg-based firm did not disclose its valuation in the increase.
The company, considered Europe’s answer to OpenAI, was founded in 2019 and provides business-to-business (B2B) and business-to-government (B2G) AI solutions. It has developed its own large language models and will invest the cash in research on foundation models, advanced product capabilities and commercialization of its software.
Founder and CEO Jonas Andrulis said in a Press release,
“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 freedom and flexibility for customers across infrastructure, cloud compatibility, on-premise support, and hybrid setups. Ongoing development will expand the interface and customization options to suit business-critical needs.
The startup is pushing a concept called “data sovereignty,” which means that data stored in a certain country is subject to the laws of that country. The concept has become increasingly popular among European politicians and legislators who want to be independent from the United States in terms of data storage and management. Andrulis believes that “for clients with significant responsibility and in strategic environments where sovereignty is at risk,” Aleph Alpha is the best choice.
Echoing this sentiment, Dr. Tanja Ruckert, Member of the Management Board and Chief Digital Officer of Robert Bosch GmbH, says:
“Actively developing generative AI will be vital for Europe’s technological sovereignty. “That is why at Bosch we are opening up areas of application and business models and, together with other companies like Aleph Alpha, are playing an important role in shaping this cutting-edge technology.”
The data used to train Aleph Alpha’s models is stored in Europe and includes a large repository of multilingual public documents published by the European Parliament. Currently, models can communicate in English, French, German, Italian and Spanish.
raised by $500 million noted That’s unusually large for a Series B round and a testament to the frenzy in AI venture capital. Investors around the world are scrambling to support generic AI projects. chatgpt Creators has raised $10 billion, while AI startup Inflection, co-founded by the founders of DeepMind and LinkedIn, has raised $1.3 billion.
Mercy Mutanya is a tech enthusiast, digital marketer, author and IT Business Management student. She enjoys reading, writing, doing crossword puzzles, and watching her favorite TV series.
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