Artificial intelligence startups, and (thanks to GPT and Open AI) specifically those helping humans communicate with each other, are commanding a lot of interest from investors, and today the latest of these is announcing a big round of funding. DeepL, a startup that provides instant translation-as-a-service both to businesses and to individuals — competing with Google, Bing and other online tools — has confirmed a fundraise at a €1 billion valuation (just over $1 billion at today’s rates).
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#DeepL primarily provides translation as a service to businesses rather than individuals, and its forte up to now has been working primarily with smaller and medium organizations. Some of those have the potential for a lot of scale: DeepL powers translation on Mastodon, for example.
The company has long competed with the likes of Google and Microsoft on the translation front with the smaller upstart often comparing favorably.