German AI Startup Aleph Alpha Scores $500M in Series B Funding

JJohn November 6, 2023 4:02 PM

Aleph Alpha, a German AI startup, has successfully raised $500M in Series B funding from a consortium of seven new investors, including existing investors from its previous rounds. The firm, founded in 2019, emphasizes client sovereignty in AI implementation and continues to expand its offerings while maintaining independence and flexibility.

Aleph Alpha's substantial Series B funding

Aleph Alpha, a budding AI startup in Germany, has successfully secured a whopping $500 million in its Series B funding round. The funding round saw the participation of a consortium comprised of seven new investors, along with the existing investors from its previous rounds. The substantial funding reflects the growing confidence and interest of investors in the potential of the German startup's AI technology.

The funding consortium that led this round was spearheaded by Innovation Park Artificial Intelligence (Ipai). The funding round saw substantial support from Schwarz Group, the owners of the Lidl supermarket chain, and Bosch Ventures, both acting as co-leads. The round also welcomed new investors such as Berlin-based Christ&Company Consulting, Hewlett Packard Enterprise, and SAP, in addition to Burda Principal Investments.

In a separate instance in July, SAP joined the league of Aleph Alpha's investors. Alongside this, SAP continued to express its faith in the AI sector by investing in two other promising AI startups – Anthropic and Cohere.

Aleph Alpha's focus on EU-regulated data protection and security

Aleph Alpha boasts a team of about 70 employees. The startup concentrates on crucial areas such as EU-regulated data protection and security. The company frequently collaborates with governmental bodies, law enforcement agencies, and healthcare organizations, reflecting its versatile application of AI technology.

CEO Jonas Andrulis on Aleph Alpha's customer-centric approach

Jonas Andrulis, the CEO and founder of Aleph Alpha, made a statement emphasizing the company's commitment to its customers. He ensured that Aleph Alpha will continue to widen its services while keeping its independence and flexibility intact. He highlighted areas such as infrastructure, cloud compatibility, on-premise support, and hybrid setups as key areas of focus for the company.

More articles

Also read

Here are some interesting articles on other sites from our network.