According to Foresight News, AI21 Labs, a text generation artificial intelligence (AI) tool, has completed a $155 million Series C funding round led by Walden Catalyst, Pitango, SCB10X, b2venture, Samsung Next, and Intel founder Amnon Shashua. This latest round brings the total amount raised by AI21 Labs to $283 million, with a company valuation of $1.4 billion. The funds will be used to develop AI products.
Founded in 2017, AI21 Labs focuses on developing AI systems capable of understanding and generating natural language. Recently, the company partnered with Amazon's Bedrock to provide customers with a convenient way to build generative AI applications using pre-trained models.
