Bosch, SAP and others back Europe's answer to OpenAI with $500 million of fresh funds
Publishing timestamp: 2023-11-06 12:01:43
Summary
German startup Aleph Alpha has raised $500 million in a series B funding round backed by companies such as Bosch, SAP, and Hewlett Packard Enterprise. The company, which has built its own large language models, will use the funds for research, advanced product capabilities, and commercialization of its software. Aleph Alpha is focused on the concept of "data sovereignty," ensuring that data stored in a certain country is subject to that country's laws. The funding round highlights the active venture capital activity in the AI sector.
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