German startup Aleph Alpha has raised more than $500 million in Series B funding and secured the backing of several prominent investors for its sovereign Generative AI solutions which serve as an alternative to rival OpenAI.
Aleph Alpha said in addition to scaling the business, it will use the funding to increase research on foundation models, advance product capabilities and accelerate commercialisation with selected partners. In particular, it is aiming to advance commercialisation of Generative AI in complex applications in data sensitive industries like healthcare, finance, law, government and security.
Prominent new investors include Berlin-based Christ&Company Consulting, Hewlett Packard Enterprise and German multinational enterprise application software company SAP, as well as Burda Principal Investments. The investment is led by the Innovation Park Artificial Intelligence (Ipai), Bosch Ventures and the companies of Schwarz Group. In total, the consortium consists of seven new investors as well as existing investors from previous rounds.
The significant enhancement of the capabilities of Large Language Models by a European company gives government agencies as well as companies the opportunity to build and apply AI in a sovereign environment, as Aleph Alpha combines data protection and security with unique explainability and customisation options.
“Actively developing Generative AI will be crucial for Europe’s technological sovereignty. That’s why we at Bosch are opening fields of application and business models and playing a key role in shaping this cutting-edge technology together with other companies such as Aleph Alpha,” said Dr. Tanja Rückert, Member of the Board of Management and Chief Digital Officer of Robert Bosch GmbH.
Jonas Andrulis, CEO and founder of Aleph Alpha, added: “With this latest investment, we will continue to enhance our capabilities and enable our partners to be at the forefront of this technological development. To empower customers, Aleph Alpha will continue to expand its offerings while maintaining independence and flexibility for customers in infrastructure, cloud compatibility, on-premise support and hybrid setups.”
