Estimated value of Deepl translation tool at two billion dollars

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DeepL, which is developing an artificial intelligence-based translation tool, announced an IPO round to raise $300 million, bringing the value of the German startup to $1 billion.

The Cologne-based company said in a statement that the funding round, led by Index Ventures, will support Deepl’s mission to “transform the way companies communicate with each other around the world.”

The new valuation makes DeepL the largest artificial intelligence startup in Germany, according to Handelsblatt. DeepL is known for its artificial intelligence-based online translation service, which is available in 32 languages.

In addition to the free short text translation service, DeepL also offers paid translation programs to companies and has more than one hundred thousand paid subscriptions.

“DeepL”, which was launched in 2017, was initially considered a competitor to the translation service “Google Translate”, before rising to the ranks of the most prominent tools in the great growth of generative artificial intelligence, along with “Chat GPT” from “Open A”.Any”. Read more