DeepL Secures $100 Million to Provide AI-Powered Translation Services to Businesses

The world is becoming increasingly interconnected and language translation is becoming increasingly important for businesses to communicate across geographies and different demographics. Cologne, Germany-based DeepL is leveraging AI language translation to target enterprise customers and has recently announced a funding raise estimated at well over $100 million, valuing the company at more than $1 billion.

DeepL uses deep neural networks to infer accurate translations, understanding the nuanced interpretations of phrases and sentences and conveying them in a target language. The company aims to break down language barriers and facilitate communication between different cultures and countries.

Other companies such as Google, Microsoft, and Meta are also leveraging AI models to better translate human language, but DeepL is pushing the boundaries of how neural networks are designed to maximize translation quality. With the new funding, the company will be spending more on fundamental AI research, venturing into new product areas and also expanding its portfolio towards enterprise customers.

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