German AI Startup Aleph Alpha Raises $500M in Series B Funding for Development and Deployment of Large Language Models

New investors include Innovation Park Artificial Intelligence, Bosch Ventures, and Schwarz Group, among others. Funding to be used on research, advanced production capabilities, and commercialization of software to ensure 'data sovereignty' for European companies amidst tighter AI regulations.

• German AI startup Aleph Alpha has gathered $500 million in its latest Series B funding round, which was led by Innovation Park Artificial Intelligence, Bosch Ventures, and Schwarz Group, along with other investors like Christ & Company Consulting, Hewlett Packard Enterprise, SAP, and Burda Principal Investments.
• The company has raised over $640 million in total to further develop and commercialize its large language and multimodal models, unique in that they allow European businesses to maintain data sovereignty amidst stricter AI regulations.
• Aleph Alpha, founded in 2019, aims to secure a distinct position in European markets by offering 'full sovereignty' in AI deployment to its clients, in comparison to U.S.-based competitors such as OpenAI and Anthropic.
• The firm’s commitment to 'data sovereignty' signifies that the data used in these AI models will need to be stored within Europe, complying with the respective country's laws - a distinctive appeal for European businesses concerned about data storage and processing abroad.
• Aleph Alpha's sophisticated models currently support communication in multiple languages including German, French, Spanish, Italian, and English. They leverage a broad repository of multilingual public documents published by the European Parliament.

3 Articles

Crunchbase News CNBC TechCrunch