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Traditional Chinese is a written form of Chinese used in Taiwan and Hong Kong. Both locations are key business hubs for technology and finance — a factor that attracted DeepL to launch its latest language in those markets. DeepL, one of Europe's high-profile AI companies valued at $2 billion , sells translation software aimed at businesses rather than everyday consumers. German artificial intelligence translation startup DeepL on Wednesday launched traditional Chinese as a language option as it looks to expand its presence in Asia. With the launch of traditional Chinese, the firm is looking to help some of its international customers more effectively communicate with clients or employees in Taiwan or Hong Kong.
Persons: DeepL, Kutylowski, Mark Zuckerberg's Organizations: Wednesday, CNBC, Google, Microsoft, Ventures Locations: Taiwan, Hong Kong, Asia, The Cologne, Germany, Japan, Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeepL CEO Jarek Kutylowski on his AI start-up raising $300 million on $2 billion valuationJarek Kutylowski, Deepl CEO, on joins 'Closing Bell: Overtime' to discuss his startup that uses AI to help provide language services to businesses.
Persons: Jarek Kutylowski
Launched in 2017 by founder and CEO Jaroslaw "Jarek" Kutylowski, DeepL is a competitor to Google Translate. At $2 billion, DeepL is now worth double what it was in its previous round in January 2023, when it raised $100 million from investors at a $1 billion valuation. ICONIQ Growth and Teachers' Venture Growth came on board as new investors, while existing investors IVP, Atomico and WiL also participated. "We're really expanding our product toward being able to support these bigger enterprise customers," Kutylowski said. The company has ramped up its focus on selling into enterprise over the past few years and now counts customers including Zendesk, Nikkei, Coursera and Deutsche Bahn.
Persons: Kutylowski, Jaroslaw, WiL, PARIS —, I'm, DeepL Organizations: CNBC, Google, Venture, PARIS, Zendesk, Nikkei, Coursera, Deutsche Bahn Locations: Atomico, Swiss, U.S, Asia
DeepL CEO: Europe still behind on AI
  + stars: | 2023-12-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDeepL CEO: Europe still behind on AIDeepL CEO Jarek Kutylowski outlines the challenges Europe's AI companies face in their race with the U.S.
Persons: Jarek Organizations: U.S Locations: Europe
Translation startup DeepL is closing in on a new funding round led by US giant IVP, sources say. DeepL previously sold a portion of its business to US investor Benchmark. Like Google Translate, DeepL offers a free translation service powered by artificial intelligence. A small test run by Insider indicates that DeepL is, at least in some cases, more intuitive than Google. DeepL previously sold a 13.6% portion of its business to US fund Benchmark and Btov Partners in 2018, according to reporting by Slator.
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