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Aleph Alpha

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European AI Startup Aleph Alpha Secures $500 Million in Funding from Bosch, SAP, and Lidl Owner

Originally Published 2 years ago — by CNBC

German startup Aleph Alpha has raised $500 million in a funding round backed by companies such as Bosch, SAP, and Hewlett Packard Enterprise. The company, which is competing with Microsoft-backed OpenAI, has developed its own large language models and aims to promote the concept of "data sovereignty" by ensuring that data used in AI models is grounded in Europe. The funding will be used for research, product development, and commercialization. Aleph Alpha's models can already communicate in multiple languages, including German, French, Spanish, Italian, and English. The investment highlights the growing interest in AI startups and the development of advanced AI models.

business technology aleph-alpha artificial-intelligence data-sovereignty european-startups funding-round technology

German AI Startup Aleph Alpha Secures $500M Funding from Lidl Owner, Bosch, and SAP

Originally Published 2 years ago — by TechCrunch

German AI startup Aleph Alpha has raised $500 million in a Series B funding round co-led by Lidl owner Schwarz Group and Bosch Ventures, along with five other new investors and existing institutional investors. The startup, which emphasizes client sovereignty over AI implementation, focuses on areas such as data protection and security, often working with governmental bodies and healthcare. With this funding, Aleph Alpha plans to expand its offerings while maintaining independence and flexibility for customers in infrastructure, cloud compatibility, on-premise support, and hybrid setups.

business technology ai-startup aleph-alpha bosch-ventures funding-round lidl technology