Significant milestone for the European tech scene, Aleph Alpha, a German startup aiming to establish a European alternative to American AI giants like OpenAI and Google, has secured a whopping €500 million (approximately half a billion euros) in funding.
The investment comes from a consortium of notable investors, including German IT powerhouse SAP, retail giant Schwarz Group (owner of Lidl and Kaufland), industrial titan Bosch, and American company Hewlett Packard Enterprise.
Aleph Alpha, headquartered in Heidelberg, Germany, was founded by Jonas Andrulis, a former engineer for SAP and Apple. Specializing in Large Language Models akin to those developed by OpenAI, Jonas has also crafted applications focusing on data security and privacy for European businesses.
The startup, which currently boasts around 70 employees, aims to pioneer the next wave of AI innovation right from the heart of Europe.
This substantial funding injection is poised to fuel Aleph Alpha’s ambitious vision of reshaping the AI landscape. With support from industry giants like SAP, Bosch, and Schwarz Group, the startup is well-positioned to drive forward its mission of creating cutting-edge AI solutions rooted in European expertise.
We can say that we live some exciting times, as Europe solidifies its presence in the AI revolution.
